Rate applicable on valuation of residential house

Last updated: 03 November 2012

Court :
INCOME TAX APPELLATE TRIBUNAL

Brief :
That the Learned Assessing Officer has wrongly applied the valuation of Residential House as made by District Valuation Officer which is based on material rates prescribed by CPWD. With a contractors margin of 10% on supplying / fixing/ providing of material. While the appellant has submitted Valuation report of Govt. approved valuer who has applied prescribed rate by PWD. That the valuation should be taken on the basis of prescribed rates of UPPWD.

Citation :
Smt. Ranbiri Devi, 503, Patel Nagar, New Mandi,muzaffarnagar -251001 (UP) (PAN: AGRPD8570H) (Appellant) Vs. Income Tax Officer, Ward 2(3),Aaykar Bhavan,(Respondent)

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CS Bijoy
Published in Income Tax
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