1979 (12) TMI 108 - AT - Income Tax

Summary

The ITAT Pune judgment for the assessment year 1974-75 involved a dispute over the valuation of self-occupied property income. The ITO estimated the property value at Rs. 5,400, resulting in a net income of Rs. 3,000 for the assessee. The AAC upheld this valuation. However, the ITAT Pune set aside the lower authorities' orders and allowed the assessee's appeal based on a similar case precedent from the Ahmedabad Bench of the Tribunal.