9911796707
TMI Blog1999 (8) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... and in the circumstances of the case, the Tribunal was justified in law in adopting the annual rateable value according to the municipal law for the purpose of assessment under the Income-tax Act ? 2. Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in not holding that the standard rent under section 8(1)(d) of the West Bengal Premises Tenancy Act, 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, assessment years 1985-86 and 1986-87. In appeal, the Commissioner of Income-tax (Appeals) has followed its earlier order for the assessment year 1984-85 and directed the Assessing Officer to compute the income from house property as shown by the assessee and allowed statutory deductions. In appeal before the Tribunal, the Tribunal has considered the decision of this court in the case of CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... out to relations or the directors of the company or persons who have substantial interest in the company, the value should be taken on the basis of rent received actually or on the basis of rent determined as per valuation of the property by the Municipal Corporation under the provisions of the Calcutta Municipal Corporation Act. He placed reliance on a decision of this court in the case of CIT v. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uation. Admittedly, the assessee is receiving more rent than the rent receivable on the basis of the valuation of the property in question, under the provisions of the Municipal Corporation Act. Therefore, in view of the facts no interference is called for with the order of the Tribunal. Accordingly, we answer question No. 1 in the affirmative. Question No. 2 does not arise out of the order o ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
