Summit Securirites Ltd Formelry Knowan ... vs Department Of Income Tax
8. Now, coming to the second issue regarding valuation of motor
cars at 80% of the insured value, we find that the same issue stands
6 WTA No : 88/11
covered by the decision of the ITAT Mumbai Bench in the case of M/s
Samarth Knitters P. Ltd. (supra). Thus, the findings of the CWT(A)
on this score also stands confirmed. In the result, ground No.2 raised
by the revenue stands dismissed.