demolished during the financial year 2014-15 in pursuance of
demolition order dated 22.04.2014 by the Chennai Corporation.
Hence as on valuation date ... when the Chennai
Corporation vide its demolition order dated 22.04.2014 has ordered
for the demolition of the said building because of its dilapidated
conditions
1100/Mds/10 28
afterthought. Ld. Counsel then pointed out the demolition order
dated 28-3-2008 from Corporation (paper book Vol. I pages ... demolition of part of the building was
obtained in the relevant previous year itself. Specifically he
pointed out page 11 of the assessment order wherein
property was already furnished to Ld. AO. The same
include the demolition order as obtained from the Chennai Corporation
which was dated post registration ... consider
these issues while completing the assessment. Finally, the assessment
order was held to be erroneous as well as prejudicial to the interest of
revenue
view of the major work of
demolition of the existing structure newly built by the previous order
for hotel business by the appellant. Hence
Court, which though was dismissed vide order dated
17.11.2003,, but the assessee was advised not to start demolition
de
immediately thereafter ... party may approach higher Court for
appropriate orders. Simultaneously, the occupying tenants had also
objected to the demolition activity and that after prolonged
litigation/arbitration
Properties Pvt. Ltd. Prior to demolition and construction of six
flats, it is not clear from the assessment order as to whether the assessee ... demolition of
the constructed area thereon the acquired new asset. Later on , the
assessee has constructed six flats on the said land after demolition
order for the
respective assessment years, the assessee preferred appeals
before the CIT(A). For the assessment year 2005-06, the
CIT(A) vide order ... nature. The expenditure on demolition,
dismantling etc. can only be allowed as revenue. We
therefore, modify the order of CIT(A) to exclude expenditure
incurred
Chny/16
do not find any reason to interfere with the order of the lower
authority and accordingly the same is confirmed.
7. Now coming ... assessee, submitted that the demolition of building was permitted
by the Coimbatore Municipality by an order dated 07.09.2006. The
power of attorney was given
filed before this
Tribunal. Moreover, the order said to be issued by the Municipal
Corporation for demolition and reconstruction of the building also
not filed ... shall also bring on record whether there was any order by
Municipal Corporation for demolition of existing building and for
reconstruction and thereafter decide
GANESAN, JUDICIAL MEMBER:
This appeal of the assessee is directed against the order of
the Commissioner of Income Tax (Appeals)-7, Chennai dated ... Planning
Section, Corporation of Chennai granted permission for demolition of
the existing building by an order dated 03.06.2013. Therefore the
assessee invested the capital gain
