THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM vs. M/S. HILLOCKS HOTELS PRIVATE LIMITED, VISAKHAPATNAM

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ITA 537/VIZ/2019Status: HeardITAT Visakhapatnam14 June 2022AY 2014-1512 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal found merit in the assessee's arguments regarding the DVO's valuation and the reliefs granted by the CIT(A). The Tribunal upheld the CIT(A)'s decision on several grounds, including the exclusion of certain construction costs, acceptance of invoices for lifts and transformers, and allowing rebates for self-supervision and rate differences.

What were the facts?

The Revenue appealed against the CIT(A)'s order which partly allowed the assessee's appeal. The CIT(A) had granted relief on additions made by the AO based on the DVO's valuation report. The AO had made additions to the assessee's income based on the difference between the DVO's valuation and the assessee's declared cost of construction.

What were the issues?

Whether the DVO's valuation report was correctly applied by the AO, and whether the CIT(A) erred in granting reliefs on additions made based on this report.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 69B,Section 50C(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI DUVVURU RL REDDY, HON’BLE & SHRI S BALAKRISHNAN, HON’BLE

Hearing: 17/05/2022

Heard together (2 matters)

I.T.A. No.537/Viz/2019
CO No.152/Viz/2019

Read from the judgment's own cause title. This page is filed under one of them.

आदेश की प्रतिलिपि अग्रेपिि/Copy of the order forwarded to:- ननधधाररती/ The Assessee – M/S. Hillocks Hotels Pvt Ltd., 11-2-16, 1. Prashanth, Daspalla Hills, Visakhapatnam, Andhra Pradesh. रधजस्व/The Revenue – DCIT, Income Tax Office, Infinity Tower, 2. Shankaramatham Road, Santhipuram, Visakhapatnam, Visakhapatnam – 530016. 3. The Principal Commissioner of Income Tax-1, Visakhapatnam. आयकर आयुक्त ( अऩीऱ)/ The Commissioner of Income Tax-1, 4. Visakhapatnam. ववभधगीय प्रनतननधध, आयकर अऩीऱीय अधधकरण, ववशधखधऩटणम/ DR, ITAT, 5. Visakhapatnam गधर्ा फ़धईऱ / Guard file 6.

आदेशधनुसधर / BY ORDER

Sr. Private Secretary ITAT, Visakhapatnam

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