Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (1) TMI 1104 - AT - Income TaxComputation of taxable income under head “House property” - Restricting the ALV under reference only to 1/3 of the area - fair rental value - Held that:- Considering the facts of the case in the light of the order of the Tribunal and the assessment order for AY 2011-12 & 2013-14, it is clear that the claim of the assessee has been accepted by the AO in set aside proceedings for AY 2011-12 that the assessee leased out only 1/3 of the space in property under consideration for which rental value was computed by the AO. The findings of the Ld.CIT(A) are thus supported by the stand of the AO taken in AY 2011-12 & 2013. Once the AO accepted the claim of the assessee that the assessee leased out only 1/3 of the area in property in question, there is no infirmity in the order of the Ld.CIT(A) in directing the AO to compute only letting value of 1/3 property in question. Accordingly, the appeal of the department is dismissed.
|