9911796707
TMI Blog1983 (11) TMI 129X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee owns a bungalow No. 241 in Sector-9C, Chandigarh. The assessee has used this bungalow for self-occupation. For the asst. yr. 1979 80, return was filed on 25th May, 1979 declaring total income of Rs. 30,707 with net agricultural income of Rs. 1,049. In working out this total income, the assessee took the ALV of the above bungalow at Rs. 3,600. However, the ITO took the annual letting value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income from Unit Trust dividends to the extent of Rs. 2,000 should first be excluded from the income other than the income from property and then only 1/10th thereof should be taken for purpose of computing annual value of finding out and including in the, total income the income from self-occupied property. He also relied on the comments of Kanga & Palkhivala at p. 1125. 5. These submissions, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... location, size and other market conditions, the annual value taken by the ITO and confirmed by the AAC is considered reasonable and fair. Therefore, no interference is called for so far as this aspect of the matter is concerned. 7. So far as the contention of the ld. counsel for the assessee with regard to the restriction of 1/10th of the total income of the owner from all other sources except ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Thus, Unit Trust dividends come within the ambit of Chapter VIA of the Act. In the proviso to s. 23(2), such income is not required to be excluded from the income other than the income from property, 1/10th of which is to be included in the total income of the assessee. Therefore, the arguments of the ld. counsel for the assessee are untenable and are rejected as such. 8. In the result, order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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