TMI Blog2020 (1) TMI 721X X X X Extracts X X X X X X X X Extracts X X X X ..... nsidering assessee's claim that the comparable cases referred to by the Assessing Officer are not at all comparable since they are commercial properties. Determination of ALV @ ₹ 1,00,000, per month by learned Commissioner (Appeals) is without any basis and is on a pure estimation. Therefore, when the assessee had furnished a valuation from the Municipal Authorities determining the ALV at ₹ 79,380, the same could not have been rejected without valid and cogent reasoning. In view of the aforesaid, we are inclined to accept assessee's claim that ALV of the property has to be determined at ₹ 79,380, as per the valuation of Municipal Authorities and thereafter assessee's share shall be determined for addition un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that he along with his father and brother is a co owner of a flat at New Friends Colony, New Delhi. It was submitted that a part of the flat was given on rent to a partnership firm, wherein, his father is a partner. It was submitted, from the rental income received from letting out the flat the assessee has received an amount of ₹ 30,000, per annum, whereas, his brother has also received an amount of ₹ 30,000, per annum. It was further submitted, the annual value of the said property has been fixed by the Municipal Authority at ₹ 79,380. He, therefore, submitted that the ALV determined by the Municipal Authority could be adopted for determining the income. The Assessing Officer, however, did not find merit in the submissio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned by the assessee and other co owners is used for residence by assessee's father. She submitted, only a small part of the flat was used by the partnership firm, wherein, assessee's father is a partner and for that the assessee and his brother have offered rental income of ₹ 30,000 each. She submitted, the comparable cases referred to by the Assessing Officer are commercial properties rented out to the banks, hence, their ALV cannot be compared to the ALV of assessee's property. She submitted, the aforesaid aspect has not at all being considered by the first appellate authority. Referring to the ALV determined by the Municipal Authorities, a copy of which is at Page 3 of the paper book, the learned Authorised Representati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Officer has referred to the ALV of some other properties rented out in the nearby locality. Objecting to this, the contention of the assessee is, the comparable cases of property rented out as considered by the Assessing Officer are commercial properties rented out to Banks. Whereas, in assessee's case it is a residential house and a part of which is rented out. On a perusal of the material on record, we find that neither the Assessing Officer nor learned Commissioner (Appeals) has made any enquiry with the Municipal Authorities or any other Government agencies to find out the market rent of assessee's property. Without making any such enquiry, the valuation of Municipal Authorities furnished by the assessee could not have been rej ..... X X X X Extracts X X X X X X X X Extracts X X X X
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