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TMI Blog1998 (9) TMI 29X X X X Extracts X X X X X X X X Extracts X X X X ..... the court to call for the reference of four questions which have been proposed by the assessee. The assessment year is 1987-88. The first question proposed by the assessee concerns the correctness of the order of the Tribunal in adopting the annual value as noted in the municipal register as the annual value of the property owned by the assessee. The annual value in the municipal register is real ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 per month the tenant being an associate company of the assessee. The Tribunal has held that prima facie that rate of rental cannot be considered as rent for which the properties are reasonably expected to be let. We, therefore, find no illegality whatsoever, in the order of the Tribunal in remanding the matter for the purpose of proper determination of the amount of rent that can be reasonably r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... les, though it was further contended that the articles were given for the purpose of obtaining certain pre-determined level of turnover in the off-take of the company's products. That the article did not contain any advertisement was not the case of the assessee. We, therefore, see no error in the order of the Tribunal confirming the disallowance. The next question proposed by the assessee is reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he last question that was proposed is whether the Tribunal was justified in law in refusing to entertain the additional grounds in respect of the claim for deduction of the investment-deposit account under section 32AB of the Income-tax Act. The Tribunal found that no such claim had been made before the Income-tax Officer and therefore the request for raising the additional ground was to be reject ..... X X X X Extracts X X X X X X X X Extracts X X X X
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