9911796707
TMI Blog1991 (8) TMI 343X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. In arriving at this value the Assessor and Collector took into consideration the cost of land and the cost of construction as well as the rent which was received for the part of the building which had been let out. The construction, in the instant case, had commenced in the year 1981. The Assessor Collector took the market price of the land to be ₹ 1800 per sq. mtr.In arriving at the cost of the construction he applied the C P.W.D. rates. The Accessor Collector further found that the net rent which was received by the respondents was ₹ 4428.00 per month. He also noted that the respondents had received security deposit of ₹ 45,000.00 and he then made an addition of ₹ 450.00 per month, to the actual rent being r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Collector should value the land afresh as on 1/08/1981. (6) As regards the cost of construction is concerned, in view of the fact that the case is being remanded for fresh valuation in respect of the land, it would, in our opinion, be appropriate that the Assessor Collector determines the cost of construction afresh. It will be open to the respondent to produce evidence showing his cost of construction. In such circumstances it is not necessary to rely wholly on the valuation reports because the owner should be able to show, ordinarily, as to how much money has been spent in the construction of the house. Of course if the Assessor and valuer comes to the conclusion, on the basis of some cogent evidence and material facts, that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... contention is that in such a case the real nature of transaction should be seen and it would be found that the income from the security deposit was meant to be a part of the rent. We need not go into the merits of this example because in the present case there is nothing to show that the rent which was being charged by the respondents was not the market rate. There is no evidence on the record to indicate that security deposit was furnished solely with the view that the rent is depressed and that has compensated by the landlord by earning income from the security deposit so received. It is to be borne in mind that the security deposit which was received by the landlord is refundable. The same has to be returned on the termination of the ten ..... X X X X Extracts X X X X X X X X Extracts X X X X
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