https://www.taxtmi.com/caselaws?id=284564 The Tribunal allowed the Cross Objection of the assessee for A.Y. 2008-09, dismissing the Revenue's appeal. It upheld the use of Municipal Tax value for rental income and dismissed Revenue's appeals for A.Y. 2009-10 and 2010-11. The Tribunal remanded the issue of the adhoc declaration of Rs. 54 lakhs for further verification by the AO, allowing the assessee's appeal for statistical purposes. The judgment highlighted the necessity of incriminating material in non-abated assessments and emphasized proper verification before taxing disputed disclosures. en-us Wed, 25 Apr 2018 00:00:00 +0530 Tue, 26 Nov 2019 12:51:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284564 The Tribunal allowed the Cross Objection of the assessee for A.Y. 2008-09, dismissing the Revenue's appeal. It upheld the use of Municipal Tax value for rental income and dismissed Revenue's appeals for A.Y. 2009-10 and 2010-11. The Tribunal remanded the issue of the adhoc declaration of Rs. 54 lakhs for further verification by the AO, allowing the assessee's appeal for statistical purposes. The judgment highlighted the necessity of incriminating material in non-abated assessments and emphasized proper verification before taxing disputed disclosures. Case-Laws Income Tax Wed, 25 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284564