1988 (6) TMI 11

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..... o this court under section 256(1) of the Income-tax Act, 1961, for the assessment years 1970-71 and 1971-72. "1. Whether, on the facts and in the circumstances of the case, the finding of the Tribunal that the leases dated March 11, 1968 in favour of Peekay Management were facade and not genuine is vitiated by reason of its failure to consider the relevant and material fact on record and is based .....

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..... the Revenue. The second question is answered by saying that in determining the real annual value under section 22 read with section 23 of the Income-tax Act, the rent receivable should be taken into consideration and not the amount actually supposed to have been received by the assessee. This question is also answered in favour of the Revenue. In view of the answers to the first and second quest .....

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