9911796707
TMI Blog2016 (2) TMI 1145X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 10,12,858/- as against municipal rateable value of Rs. 8,44,048/-, offered by the assessee for the premises at central garden complex has been challenged and further the annual letting value of the premises at creative industrial centre premises cooperative society at Rs. 3,94,508/- against Rs. 4,497/-, offered by the assessee, which is based on municipal rateable value. 2. During hearing of these appeals, Shri Anuj Kishnadwala, ld. counsel for the assessee, contended that the Tribunal, identically, decided the issue for A.Y. 2009-10. The assessee furnished the copy of the order dated 26/11/2014 (ITA No.2118/Mum/2012), wherein, the appeal of the Revenue was dismissed. This factual matrix was not controverted by Shri G. N. Makwana, ld. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... exceed Rs. 94,181/- (5,880 + 88,301) i.e., ALV as determined by municipal corporation when in the present case there are evidences to suggest that the AO23.12.2010." 3. Briefly stated relevant facts of the case are that the assessee is an individual and filed the return showing the house property income on account of couple of properties ie., (i) Gala No.311 and (ii) Central Garden Complex. In the return of income, for the purpose of computation of ALV of the properties, assessee relied on the rateable values of these properties. AO completed the assessment u/s 143(3) of the and rejected the computation of ALV of the said properties and held that a percentage of investment in the properties should reflect correct ALV. Accordingly, he quan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . We have heard both the parties and perused the orders of the Revenue Authorities as well as the relevant material placed before us. On hearing both the parties and on perusal of the orders of the Revenue Authorities, we find that the CIT (A) has rightly relied on the binding judgment of the Hon'ble jurisdictional High Court in the case of Smitaben N Ambani (supra). There are many other decisions from the jurisdictional High Court in the similar lines, the copies of which are placed in the paper book of the asssessee. The Revenue has not demonstrated that the facts of the assessee's case are covered by the decisions cited in ground no.1 of the present appeal. Considering the binding nature of the jurisdictional High Court judgment in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income Tax (Appeals). In such a situation, one fact is oozing out that unless and until contrary facts are brought on record, no other decision is expected to be taken. It is also noted that while coming to the conclusion, event the ld. First Appellate Authority relied upon the binding decision of Hon'ble jurisdictional High Court in the case of Samitaben N Ambani vs CWT (323 ITR 104) (Bom.). Before us, also, the Revenue has not demonstrated that the facts of the case of the assessee are covered by the aforesaid decision. Even otherwise, the judicial principle says that consistency has to be maintained. Our view find supports from the ratio laid down in following decisions:- i. Parshuram Pottery Works Ltd. vs ITO 106 ITR 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) for A.Y. 2006-07 (ITA No.2719/Mum/2013 identically for A.Y. 2007-08 (ITA No.2718/Mum/2013) ) order dated 26/11/2015, Harsh Jain (Nephew of the assessee) (ITA No.2710/Mum/2013) order dated 17/07/2015, A.Y. 2009-10, Anand Jain (Brother-in-law of the assessee) (ITA No.2709/Mum/2013) order dated 17/04/2015 and Ramiti Devi Jain (Mother-in-law) for A.Ys. 2005-06 and 2006-07 (ITA Nos. 3268 and 3269/Mum/2011) order dated 25/04/2012 held that the amount is to be taxed u/s 23(1)(a) of the Act and would be rateable at municipal value. In view of this uncontroverted position, appeal of the assessee is allowed. 3. In the appeal of the Revenue (ITA No.4726/Mum/2014), the Department has challenged the valuation by saying that the yardstick followed by ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
