9911796707
TMI Blog2007 (8) TMI 762X X X X Extracts X X X X X X X X Extracts X X X X ..... 98-99 and 1999-2000 are being disposed of, since common question of fact and law is involved in these three appeals. 2. Brief facts are that the Assessee had declared rental income from Four Storey Building at 39, Community Centre, Zamrudpur, Kailash Colony, New Delhi let out to Group concerns. During the course of assessment proceedings, the Assessing Officer found that the Assessee had not declared rent for basement though the same were occupied by other concerns and as such he computed the Annual Letting Value on the basis of rent declared for First Floor and determined income for house property as against the annual letting value declared for by the Assessee. 3. Aggrieved by the order of the Assessing Officer, the assessee filed a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erefore the Assessing Officer was justified in determining Annual Letting Value at the sum for which the property might reasonably be expected to let from year to year. 6. On the other hand, it has been contended by learned counsel for the assessee that the property owned by the assessee had always been used by it and its sister concerns and after the amendment to the provisions of section 23 of the Act from 1976, the actual rent, if it is in excess of the fair rent, has to be taken as the annual value. 7. Relevant provision of section 23 of the Act as it was then read as under:- Annual value how determined.-(1) For the purposes of section 22, the annual value of any property shall be deemed to be - (a)the sum for which the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income from house property. 10. Since the assessee has taken the actual rent received as the basis for computing income from house property, which is as per section 23 of the Act, we find no ground to differ with the reasoning given by the Tribunal that the Assessing Officer was not justified in taking the annual value for the ground floor and the basement under occupation of the assessee for computing the income from house property. 11. Thus, the order of the Tribunal does not give rise to a question of law, much less a substantial question of law, to fall within the limited purview of section 260A of the Act, which is confined to entertaining only such appeal against the order which involves a substantial question of law. 12. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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