9911796707
TMI Blog2020 (3) TMI 1435X X X X Extracts X X X X X X X X Extracts X X X X ..... set, it was observed that the assessee's appeal is delayed by a period of sixty six days. In view of the delay being reasonably explained, we are, after hearing the parties, inclined to condone the delay, and admit the appeal. 3. Opening the arguments for and on behalf of the assessee, it was submitted by his counsel, Sh. Mehta, that he is not pressing the assessee's Ground II as well as the additional ground, making an endorsement to that effect on Form 36. No plea was accordingly advanced toward the admission of the additional ground. The only issue therefore requiring our adjudication is that raised by the assessee per Ground I, i.e., in respect of house property income qua the assessee's residential house property, i.e., A/1-5, Prithvi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the claim of loss. The rent agreements having not been brought on record by the assessee, he was also unable to tell us of the area let, i.e., out of the total area available, inasmuch as other family members, including the assessee, are also residing in the same premises. The Revenue's case, on the other hand, was of no cognizance being accorded to an arrangement which is against human probabilities, and clearly a device to avoid tax. 5. We have heard the parties, and perused the material on record. 5.1 Surely, the arrangement is highly unusual, particularly considering that the rent is in respect of a self-owned property (i.e., for which no rent is being paid), which constituted the family's residence, with, further, the assessee's ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... utual agreements, the same as rent, as that would, apart from meeting the interest burden to that extent, also allow tax saving to the assessee-father. A genuine arrangement cannot be disregarded as the same results or operates to minimize the assessee's tax liability. Reference in this regard may be made to the decision in Union of India v. Azadi Bachavo Andolan [2003] 263 ITR 706 (SC) and, more recently, in Vodafone International Holdings B.V. v. Union of India [2012] 314 ITR 1 (SC). We are, accordingly, in principle, in agreement with the assessee's claim inasmuch as, as afore-noted, there is nothing on record to further the Revenue's case of the arrangement being not a genuine arrangement, i.e., apart from being unusual. 5.3 On quantum ..... X X X X Extracts X X X X X X X X Extracts X X X X
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