9911796707
TMI Blog1980 (10) TMI 93X X X X Extracts X X X X X X X X Extracts X X X X ..... therefore, restored to proceedings under s. 147 and made reassessments. 3. Aggrieved by the decision of the ITO, the assessee came up in appeal before the AAC. It was argued before the AAC that the assessee was an old assessee, had income from property, a share in the firm of M/s N. Sobhraj and interest income. Alongwith the return of income filed originally, the assessee had filed a statement of income wherein computation of income was shown on the basis of the annual letting value of the property as determined by the Municipal Corporation. There was a note below indicating that the assessee received an actual amount of Rs. 2,000 per month in respect of the property from March, 1974 to August, 1974 and Rs. 2,250 per month from September ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the original assessments was rightly rectified by the ITO in the reassessment proceedings. 5. On the other hand, the assessee defended the order of the AAC both in fact an on law and for this purpose he relied upon a decision of the Tribunal in the case of Shri D.L. Shah dt.. 1st Sept., 1980. 6. We have considered the rival contentions advanced by both the sides. At the outset we must say that from the records made available, by the Department to the Deptl. Rep., we were not in a position to peruse the reasons recorded, if any, by the ITO. The absence of the reasons recorded would, therefore, be a grievous infirmity in the orders under appeal. That apart, we find that the primary facts were disclosed to the ITO by the assessee by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... which alone and noting more than which the tenant shall be liable to pay to the landlord, it does so because it considers the measure of the standard rent prescribed by it to be reasonable. It lays down the norm of the reasonableness in regard to the rent payable by the tenant to the landlord. Any rent exceeding this norm of reasonableness is regarded by the Legislature as unreasonable or excessive. The legislature obviously regards recovery of rent in excess of the standard rent as exploitative of the tenant and it would not be proper for the Court to say that it would be reasonable on the part of the landlord to recover such exploitative rent from the tenant. 5. Having regard to the above principles as laid down by the Supreme Court a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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