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TMI Blog2019 (7) TMI 306X X X X Extracts X X X X X X X X Extracts X X X X ..... eal is admitted for consideration of the following substantial question of law : "Whether in the facts and circumstances of the case, the Income Tax Appellate Tribunal was right in law in holding that the annual value of the property in question for the relevant previous year can be determined under Section 23 (1) (a) of the Income Tax Act, 1961 ?" 2. By consent of the parties as issue is small ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee had leased out the property with effect from 1st April, 2009. Lease Agreement was executed in August-2009, which also referred to the Lessee being put in possession of the property on 1st April, 2009. 4. While assessing the return of income of the Assessee for the said assessment year 2009-10, the Assessing Officer was of the opinion that for the period between 1st January, 2009 till 31st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the matter further in Appeal before the Tribunal. The Tribunal by the impugned Judgment confirmed the view of the Revenue Authority and rejected the Assessee's Appeal. The Tribunal was of the opinion that the interpretation of the Revenue Authorities of Section 23 (1) (c) of the Act was correct. The Tribunal relied upon and referred to the decision of High Court of Andhra Pradesh in case of Vive ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the Assessee did execute a lease deed putting the leasee in possession of the property on 1st April, 2009. The Assessee's explanation is that the same was only for completing the furniture and fixtures and not for occupation for commercial use. We are not in the present Appeal concerned with the correctness of this explanation. What we are however concerned about is the fact that the Revenue w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tention. In plain terms, between 1st January, 2009 to 31st March, 2009, the property was legally not occupiable and not occupied. Under such circumstances, charing of tax on notional rental basis and the question of interpretation of Section 23 (1) (a) of the Act did not arise at all. The issue perhaps arose because the Assessee computed the notional rental receipts for the said period of three mo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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