District considered the loss as Constructive Total Loss taking into consideration the fact that the estimated repairing cost of the vehicle was approx
Formula One World Championship Ltd vs Commissioer Of Income Tax, ... on 24 April, 2017
Equivalent
Delta Transport
Corporation and Delta Constructions which have not been debited in the
respective profit & loss account and therefore it was claimed separately.
Since ... account and
balance sheet for Delta Transport Corporation and Delta Constructions, the
income/loss from which is separately computed in the computation of
income, whereas
total loss basis. As the Opposite Parties No.1 and 2, did not settle the claim of the complainant, on total loss basis. According ... vehicle would be considered to be a case of CTL (Constructive Total Loss), where the aggregate cost of retrieval and/or repair, subject
respondent No.1 is allowed to construct extended portion,
the petitioners would not suffer any financial loss, except reduction
of land and that can easily ... respondent No.1 is not allowed to construct, he will
face huge financial loss as he has already carried out substantial
construction. For this, reliance
final decree it was not
specifically mentioned that the loss in the constructed area was
compensated by allotting garage to 2nd defendant. Above all, nowhere ... whether
allotment of garage could be an effective substitution for the loss of
constructed area. This is another lacuna in the vertical bifurcation
period 25.01.2013 to 24.01.2014. The surveyor assessed the
total loss of constructed area as ₹37,64,390/- and depreciation at
the rate ... required to be
re-constructed at present, its cost will be at least more than
₹37,00,000/-. Due to loss of the building
already debited to
Profit & loss account of M/s. Samridhi Constructions. He observed that from
the materials available on record, like the ledger ... interest
has already been claimed in the profit and loss account of M/s. Samridhi
Constructions and further claim of the alleged interest as admissible
agreement for transfer of
constructed area in the project to be constructed under JDAs. Therefore
it depends on the progress of the work of construction ... failure to deliver the completed constructed area,
the assessee would be liable to make good of the losses and damages to
the other party. Even
promoter and at the site
where the building is being constructed or on the land being
developed into a colony, alongwith the documents specified ... purpose of constructing the flats, as
mentioned in Section 9 of PAPRA. The builder is bound to
compensate for the loss and injury suffered