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TMI Blog2016 (11) TMI 455X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal 'A' Bench, Chennai, in ITA No.139/Mds/2016, 140/Mds/2016, 141/Mds/2016, 142/Mds/2016 dated 22.04.2016, for Assessment years 2002-03, 2004-05, 2005-06 and 2006-07. 2. Since common issue arises for consideration in all these Appeals arising out of the common order passed by the Tribunal, conveniently, they can be dealt with by a common judgment. 3. The Assessee has let out a house property to one of its subsidiary companies on a monthly rent of Rs. 7500/-. Initially the Assessing Officer has estimated its annual rental value at Rs. 1,90,240/-. The matter was carried in appeal and the Commissioner of Income Tax (Appeals) allowed the appeal and remanded the matter back for consideration afresh. Thereafter, the matter once again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ars period. The Tribunal has given liberty to the Assessing Officer to refer the matter to the Valuation Officer to ascertain the rent of the building after applying the provisions of Tamil Nadu Buildings (Lease and Rent Control) Act, 1960. 5. Heard Mr.V.S.Jayakumar, learned counsel for the Appellant and Mr.T.R.Senthilkumar, learned Standing Counsel accepts notice on behalf of the Income Tax Department. 6. The undisputed fact is that an independent house with a built up area of 2584 sq. ft. in the ground floor and 1564 sq. ft. in the first floor situate on the land of 4 grounds and 210 sq. ft. was purchased by the Assessee and this property is situate at Crescent Street, Arch Bishop Mathias Avenue, Raja Annamalaipuram, in the city of Chen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gal infirmity in the order passed by the Tribunal warranting our interference. All that we need to clarify is that the Assessing Officer is at liberty to ascertain either from the State Government or from the local Municipal Corporation if there is any attempt made by them in the matter of fixation of rental values for similar accommodations in and around Raja Annamalaipuram, as the one which was leased out by the Assessee as a matter of guidance. Similarly, the Tribunal has also directed the Assessing Officer, to obtain the assistance of the Valuation Officer. We clarify that the Valuation Officer referred to by the Tribunal is the one who is obviously appointed as such under the Income Tax Act. 9. We find no merit in these Tax Case Appea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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