1983 (1) TMI 147

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....he share of the assessee in the said house is 1/4th. The said house was owned by four brothers jointly. The annual letting value of the whole of the house was shown at Rs. 1,920. According to the ITO, it was very low as compared to the rate of rent prevailing in the locality where the house was situated. Consequently the ITO has taken annual letting value of the whole house at Rs. 9,200. The annua....

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....nt. In respect of this property the Municipal Authorities have determined its value and same is more than the standard rent which can be fixed by the Rent Controller and Eviction Officer. According to the ld.counsel in the past also income from SOP was accepted. In the subsequent year the income from SOP was taken by the department itself at Rs. 164. In the asst.yr. 1972-73 income from SOP shown a....

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....ned by the Rent Controller should be taken into consideration. In support of these propositions, I am fortified by the ration of decision in the case of Shiela Kaushish vs. CIT(1981) 24 CTR (SC) 351. The assessee has filed copy of the municipal assessment of this year in respect of this house. The income from SOP was disclosed at Rs. 1,020. After allowing admissible deductions the income from SOP ....