2017 (8) TMI 667

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....mar Sinha, AOR, Rakesh Gupta, Ms. Monika Ghai and Ashwani Taneja, Advs. For The Respondent : K. Radhakrishnan, Sr. Adv. Ms. Niranjana Singh, Shekhar Vyas, Advs. and Ms. Anil Katiyar, AOR ORDER 1. Leave granted. 2. We have heard the learned counsel for the parties at length. 3. The appellant filed his return income for Assessment Year 1998-99, showing a total income of Rs. 67,200/-. ....

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.... appeal to the Income Tax Appellate Tribunal (ITAT). The ITAT vide its order dated 11.07.2003, partly allowed the appeal and directed the assessing authority to determine the annual letting value of the property to the sub-lessee on the basis of the municipal valuation. The Revenue challenged the order passed by ITAT before the High Court of Andhra Pradesh & Telangana by filing an appeal which was....

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....e purportedly entered into a lease agreement with his wife, son and daughter-in-law in respect of the aforesaid property of which he is paying by letting them at a very nominal rates and allowing his family members to sub-let the same at a much higher rents. In these circumstances, these findings of fact cannot be interfered with in the present appeals. It has been held by this Court in Income Tax....