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2012 (8) TMI 38 - AT - Income TaxAddition on account of annual letting value of the house property - Held that:- The assessee had chosen Mumbai house for self occupied and for ALV to Ahmedabad house which he submitted before the A.O. even then he had assessed the ALV at Mumbai house - the Rent Control Act is applicable in Mumbai thus the annual valuation u/s 23(1)(a) cannot exceed the standard rent under the Rent Control act. The A.O. had accepted the ALV on the basis of Rent Control Act in earlier years as well as subsequent year in scrutiny assessment whereas in year under consideration, the A.O. had taken basis of capital value of property. Such estimation is not justified - CIT(A) was correct in deleting the addition.
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