TMI Blog2019 (2) TMI 228X X X X Extracts X X X X X X X X Extracts X X X X ..... s determined the fair rent at the rates determined by him. Obviously, when the municipal tax has been paid in respect of the particular property, the annual letting value on the vacant property can be determined only at the municipal retable value. The determination of the annual letting value as done by the AO is found to be erroneous and consequently, the issue is restored to the file of AO for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Revenue. 3. The appeal filed by the assessee is delayed by 121 days for which the assessee has filed an affidavit for condonation of delay. The delay is on account of misplace of the order of the CIT(Appeals) by one of the employees, who was subsequently removed from assessee-company. It was a prayer that the delay may be condoned. The ld.D.R did not raise serious objections. We have con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Salai, Chennai and assessee had during relevant assessment year, rented out the second floor of the building; the basement was used for car-parking and Third and Fourth floor was vacant. It was a submission that the first floor was being used by the assessee. The ld. Assessing Officer had deputed his inspector for verification and determining the fair rental value. It was a submission that the fai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Hon ble Supreme Court in the case of Mrs.Shiela Kaushish Vs. CIT in (1981) 24 CTR 351(SC) wherein it has been held that the standard rent determinable under the provisions of the Rent Act, would be the annual value. It was a submission that the valuation done by the ld. Assessing Officer may be deleted. 5. In reply, ld.D.R vehemently supported the orders of the ld. Assessing Officer and the L ..... X X X X Extracts X X X X X X X X Extracts X X X X
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