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2006 (9) TMI 140 - HC - Income TaxLease rent - Determination of the rental value - disallowance of interest attributable to loans - under the head "Business" - commercial business activity - HELD THAT:- The finding recorded by the Tribunal that it would be a travesty of justice if the assessee, one of the co-owners, is solely picked out and an enhanced income is attributed in his hands for the same property, was based on a correct appreciation of evidence and therefore, no question of law arises from the order passed by it. Disallowance of the interest - Tribunal based on the material and evidence available on record, allowed the assessee's appeal on this issue and held that the right of attribution is available to the taxpayer to arrange the matters in the way most favourable to him, and the said view, in our considered opinion, does not suffer from legal infirmity to warrant interference. In view of the above, no substantial question of law arises for consideration of this court. In the result, these appeals are dismissed.
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