1984 (8) TMI 160

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..... Madras having 1/6th share therein. The dispute raised in the grounds of appeal pertains to the determination of the value of the assessee s 1/6th share in the said property. The AAC determined the value of the 1/6th share of the assessee in the property concerned at Rs. 4,84,543 by adding 10 per cent appreciation over the value determined by him for the asst. yr. 1976-77 at Rs. 4,40,495 instead o .....

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..... rmining factor for arriving at the value of the property because that rent did not represent a reasonable or normal rent and had reached the conclusion that the actual rent received by the assessee should be considered fore capitalisation and when so considered there is no difference between the assessee s and the AAC s working in regard to the method of arriving at the various expenses etc., dedu .....

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..... at what was determined for the earlier year. The ld. Departmental Representative merely relied on the order of the AAC. 2. On a consideration of the facts and submissions of the parties, we think there is considerable force in the assessee s submission. Undisputedly the earlier order of the Tribunal shows that the basis of determining the value of capitalising the annual income of the property .....

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