{"id":6858,"date":"2019-08-27T05:08:36","date_gmt":"2019-08-27T05:08:36","guid":{"rendered":"http:\/\/itatonline.org\/digest\/l-s-bhikam-chand-jain-v-ito-2019-414-itr-738-madhc\/"},"modified":"2019-08-27T05:08:36","modified_gmt":"2019-08-27T05:08:36","slug":"l-s-bhikam-chand-jain-v-ito-2019-414-itr-738-madhc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/l-s-bhikam-chand-jain-v-ito-2019-414-itr-738-madhc\/","title":{"rendered":"L. S. Bhikam Chand Jain. v. ITO  (2019) 414 ITR 738 (Mad)(HC)"},"content":{"rendered":"<p>Court held that theTribunal ought to have assigned reasons why Rs. 70 lakhs was fixed as the construction cost of the hotel building of the assessee. It was not sufficient to have stated that it was fair and reasonable. Why such value was fair and reasonable should have been disclosed and it should have been manifest on the face of the order. \u00a0Appeal of the assessee is allowed .(AY.2004 -05)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 254(1) : Appellate Tribunal \u2013  Duties- Estimate of cost of construction-Income from undisclosed  sources &#8211;  Order passed confirming the addition without assigning the reasons is held to be not justified .[ S.69 ]<\/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":[1],"tags":[],"class_list":["post-6858","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1MC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6858","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=6858"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6858\/revisions"}],"predecessor-version":[{"id":6859,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/6858\/revisions\/6859"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=6858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=6858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=6858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}