9911796707
TMI Blog1989 (11) TMI 91X X X X Extracts X X X X X X X X Extracts X X X X ..... coming from ancestors of the assessee and as there were certain constructions placed by the tenants of the assessee the concerned authorities wanted to cancel the lease and taking its advantage in this confusion the tenants elected not to pay rent to the assessee. After good deal of legal dragging in different courts they were required to deposit the tax in the courts. Right from asst. yrs. 1972-73 upto 1975-76 which is under consideration the assessee had not shown the said accumulated rent lying in court as its wealth. All these assessment came to be reopened and the accumulated rent was subjected to tax. Dispute regarding initiation of proceedings had been upto the Tribunal for earlier asst. yrs. 1972-73 to 1974-75 and the assessee had n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceding years. He suggest the assessee not to go even in reference out of the said consolidated order of the Tribunal. 4. After taking into consideration the rival submissions and finding it as a fact that the assessee in the course of filing its return for asst. yrs. 1975-76 never made a mention in any form or style regarding the accumulated rents lying on courts deposited by different tenants. Therefore, the action of both the lower authorities were justified. Out of the case laws certain decisions have been considered earlier and other on which reliance is placed by the learned counsel for the assessee do not specifically show that a disclosure in any other proceedings to take the assessee out of mischief of s. 17. The assessee, therefo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... SARINE vs. WTO (1988) 25 ITD 345 (Del) (TM), whereas the learned Department Representative at this stage pointed out that in the appeal of the Department the contention of the assessee is that fair market value of the property in question should not have been worked out by rent capitalisation method and the same should have been valued as done by the WTO. However, in the alternative 3456 submitted that if rent capitalisation method is to be adopted the multiplier of 16.25 is on lower side. 7. After taking into consideration of rival submissions and finding it as a fact that entire property of the assessee is tenanted, the rent capitalisation method is the only way out and CIT(A) was justified in adopting the same. Regarding assessee s cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that there are certain affidavits in the form of evidence placed subsequently the mere ignorance of the assessee in not claiming the same in earlier years or fact that it was not allowed by the Tribunal upto 1974-75 could not militate against the assessee. May be that assessee s wife has been subjected to wealth-tax in respect of dower debt subsequently after the assessee s claim was rejected but that can neither militate against the assessee nor against the Revenue. On this issue, we restore back the matter to the file of the WTO with a direction to him to adjudicate this claim of the assessee de novo after examining all the deponents regarding existence of dower debt. In the course of arguments it was submitted by the assessee himself th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 76 and 1977-78 was larger than the period between 1980-81 and date of recovery. 10. Coming to Revenue s appeal for 1980-81, the first dispute was regarding value of property which according to the learned Departmental Representative should not have been taken as per rent capitalisation method and the same should have been taken at fair market value adopted by the WTO. We have adjudicated this issue against the Revenue for 1975-76 for the very same reasons given therein and finding it as a fact that there is no change is respect of building in question or its tenancy or the fact that its nature is also the same action of the CIT(A) is confirmed and the Revenue fails on this ground. 11. The second ground pertains to rejection of Rs. 2,00, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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