{"id":51406,"date":"2025-02-24T17:09:49","date_gmt":"2025-02-24T11:39:49","guid":{"rendered":"https:\/\/itatonline.org\/digest\/shri-hari-corporation-v-dy-cit-2024113-itr-49-sn-ahdtrib\/"},"modified":"2025-02-24T17:09:49","modified_gmt":"2025-02-24T11:39:49","slug":"shri-hari-corporation-v-dy-cit-2024113-itr-49-sn-ahdtrib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/shri-hari-corporation-v-dy-cit-2024113-itr-49-sn-ahdtrib\/","title":{"rendered":"Shri Hari Corporation v. Dy. CIT (2024)113 ITR 49 (SN) (Ahd)(Trib)"},"content":{"rendered":"<p>Held that the addition is\u00a0 made on the estimated value, without substantial evidence to contradict the actual cost recorded by the assessee, which was not justifiable. That \u00a0the District Valuation Officer had submitted a letter clarifying that he had not withdrawn the certificate and its correctness should not be doubted. Neither the Assessing Officer nor the Commissioner (Appeals) had taken into consideration this letter by the valuer which was a basis for referring the valuation to the District Valuation Officer. The addition based on the estimated cost, without discrediting the actual costs recorded, is\u00a0 not justifiable. (AY.2013-14, 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 144 : Best judgment assessment-Development of property-Housing project-Work-in-progress-Prescribed Accounting Standards-Addition made on estimated value, without substantial evidence to contradict actual cost recorded is not Justified.  [S. 142A, 145(3)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-51406","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-dn8","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=51406"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51406\/revisions"}],"predecessor-version":[{"id":51407,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/51406\/revisions\/51407"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=51406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=51406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=51406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}