Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (6) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (6) TMI 548 - AT - Income TaxIncome from house property - Addition of ALV under section 23(1)(a) - Held that:- It cannot be denied that there is no relationship whatsoever between the Licensor and the Licensee, viz. the Induslnd Bank in the present case, nor is there any finding that there are any suspicious circumstances or any fraud or collusion surrounding the Leave & License arrangement entered into by the assess. That being so, the case of Tip Top Typographics [2014 (8) TMI 1002 - BOMBAY HIGH COURT] as well as of Moni Kumar [2011 (3) TMI 497 - DELHI HIGH COURT] and the ratio thereof cited approvingly by the Hon’ble High Court in the assessee's own case, covers the facts of the assessee's case. On the facts of the present case, the conditions precedent to resort to enquiry or adoption of the prevailing rateable value are absent. In view of the same, and considered opinion, the rent actually received by the appellant shall be taken to be the actual rent for tax purposes. Respectfully following the Hon'ble Bombay High Court in appellant one's case order the estimation of rent done by the AO is not justifiable one. Accordingly, direct the AO delete the addition - Decided against revenue.
|