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TMI Blog1985 (1) TMI 114X X X X Extracts X X X X X X X X Extracts X X X X ..... f the assessee at Rs. 1,41,500. Aggrieved by the said order the assessee took up the matter in appeal before the AAC contending that the value should be taken at Rs. 58,697 on the basis of the value determined for the asst. yr. 1971-72 in the light of s. 7(4). In the alternative it was claimed that r. 188 should be applied for valuing the said property. The AAC rejected both the contentions conten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amla Nagar, Delhi, the same was fully let out to a bank. The declared value was Rs. 4,84,281 on the basis of rental method. The WTO, however, did not accept computation and he recomputed the value. In doing so he did not allow collection charges of Rs. 3,131. The WTO also applied a multiplying factor of 100/8. In doing so he arrived at the value of Rs. 5,43,600. Aggrieved by the said order the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is in excess of the sum referred to in sub-cl. (i), the amount so received or receivable shall be the gross maintainable rent. That being the case there is no question of manipulation with the actual rent received. With regard to the multiplying factor also 100/9 directed by the AAC to be taken in the instant case cannot be said to be excessive. It is accordingly upheld. 6. In the result the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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