9911796707
TMI Blog1986 (12) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... ompleted on10th Sept., 1979, income from self-occupied property of the assessee was taken at Rs. 958 as declared by the assessee in the statement of income. This was on the basis of restricting the ALV of the property (E-12, Greater Kailash) to 1/10th of the partial income excluding capital gains. 2. Subsequently, the ITO came to understand that, for working out the total income for the purpose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basis, the ALV for this year would come to Rs. 10,312 for 9 months. (iv) On the basis of the above ALV, income from SOP subject to the limit of 10 per cent comes to Rs. 10,312. Allowing a deduction of 1/6th for repairs therefrom, what is to be assessed is Rs. 8,593. The ITO, therefore, substituted the figure of Rs. 958 originally taken by the above recomputed figure of Rs. 8,593. The assessee ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e heard both Shri M.L. Khanna, ld. counsel for the assessee and Shri D.K. Sharma, departmental representative. Though objections were taken to the effect that the assessee was not given a reasonable opportunity of being heard by the Commissioner(A), on enquiry it was seen that there was no substance in such objections. We would, therefore, proceed to consider the assessee's objection on merits. On ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... proceed to determine the annual value of the self-occupied property in the same manner as if it had been let. For this purpose, he should keep in view the principles laid down by the Supreme Court in Sheila Kaushish vs. CIT (1981) 131 ITR 435 (SC). From the annual value so determined, 1/2 has to be deducted subject to the limit of Rs. 1,800 and, thereafter he should consider the deductions permiss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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