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TMI Blog2012 (4) TMI 727X X X X Extracts X X X X X X X X Extracts X X X X ..... poses. Determination of ALV u/s.23(1)(a) - Held that:- A.O. should determine the ALV of the said flat as per our directions in respect of ground no.2 and if the actual rent received by the assessee is higher as u/s.23(1)(b) then the same should be adopted. In our opinion, law is clear if the actual rent received by the assessee is more than the ALV determined u/s.23(1)(a) and in view of clause (b) to sec.23(1) actual rent received is to be adopted. In the present case, actual rent received by the assessee is more than the municipal rateable value and in view of clause (b) to sec.23(1) the A.O. has rightly adopted the said value. Accordingly, confirm the order of the Ld. CIT (A) on one flat at EL-DORDO Mumbai and dismiss ground no.3 for A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... said flat on Leave License basis for a sum of ₹ 11,500/- per month in the earlier year. The A.O. estimated the ALV of the said flat for the four months i.e. @ ₹ 46,000/- from April to July 2004 (by adopting ₹ 11,500/-) by considering the actual rent received by the assessee. The A.O. allowed the deduction at 30% u/s.24. 5. In the A.Y. 2006-07 the only issue is in respect of the two flats in the Green Field situate at Jogeshwari, Vikroli Link Road, Mumbai - 400 093. The A.O. estimated the ALV of the said flats at ₹ 48,000/- and also the deduction u/s.24 and estimated the net ALV at ₹ 33,600/-. 6. I have heard the parties. So far as the issue of the determination of the ALV in respect of the two flats in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the monthly rent of ₹ 11,500/-. The A.O. has not determined the ALV u/s.23(1)(a) of the Act. The A.O. should determine the ALV of the said flat as per our directions in respect of ground no.2 and if the actual rent received by the assessee is higher as u/s.23(1)(b) then the same should be adopted. In our opinion, law is clear if the actual rent received by the assessee is more than the ALV determined u/s.23(1)(a) and in view of clause (b) to sec.23(1) actual rent received is to be adopted. In the present case, actual rent received by the assessee is more than the municipal rateable value and in view of clause (b) to sec.23(1) the A.O. has rightly adopted the said value. I, accordingly, confirm the order of the Ld. CIT (A) on one f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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