TMI Blog2018 (12) TMI 1681X X X X Extracts X X X X X X X X Extracts X X X X ..... H COURT ] as well as MONI KUMAR SUBBA [2011 (3) TMI 497 - DELHI HIGH COURT] wherein as held that market rate in the locality is an approved method for determining the fair rental value but it is only when the Assessing Officer is convinced that the case before him is suspicious, determination by the parties is doubtful that he can resort to enquire about the prevailing rate in the locality. We are of the view that municipal rateable value may not be binding on the Assessing Officer but that is only in cases of afore-referred nature. It is definitely a safe guide - decided in favour of assessee - ITA No. 3887/Mum/2017, ITA No. 3665/Mum/2017 - - - Dated:- 7-12-2018 - SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM For th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the previous year and accordingly the Appellant had rightly adopted the municipal rateable value for the purpose of determining income under the head income from House Property. Revenue 1. On the facts and in the circumstances of the case and in Law, the Ld. CIT(A) erred in holding that the ratable value of the properties as determined by the Municipal Authorities is the yardstick while failing to consider that Section 23(1)(a) mandates that the annual value is deemed to be the sum for which the property might be expected to be let from year to year.? 2. On the facts and in the circumstances of the case and in Law, the Ld. CIT(A) erred in ignoring the fact that the Assessing Officer had made local enquiries to det ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... market value at ₹ 15483852/-. The Ld. CIT(A) confirmed the finding of the AO. 12. The Ld. A.R. of the assessee has contended that it was not a case where the flats were actually let out and therefore there was not any suspicion, doubt or dispute as to the rate of rent which might have been actually received by the assessee. He has contended that in this case, the flats were admittedly vacant and therefore the deemed ALV was rightly offered as per the municipal rateable value. He has relied upon the decision of the co-ordinate bench of the Tribunal in the case of Shri Anil Kashiprasad Murarka vs. ACIT ITA No.5514/M/2012 decided on 17.12.2014. We have gone through the said decision. The relevant finding of the Tribunal has be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the 4. The learned Counsel for the assessee stated that the issue is squarely covered by the decision of Hon ble Bombay High Court in the case of CIT vs. Tip Top Typography (2014) 368 ITR 330(Bom), wherein the decision of Hon ble Delhi High Court in the case of CIT vs. Moni Kumar Subba (2011) 333 ITR 38 (Del) was considered and we find that Hon ble Bombay High Court in Tip Top Typography (supra) held as under: - 48. We are not in agreement with Shri Chhotaray that the municipal rateable value cannot be accepted as a bona fide rental value of the property and it must be discarded straightway in all cases. There cannot be a blanket rejection of the same. If that is taken to be a safe guide, then, to discard it there must ..... X X X X Extracts X X X X X X X X Extracts X X X X
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