2020 (9) TMI 253

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....under section 143(3) of the Income-tax Act, 1961 (hereinafter 'the Act'). 2. The first issue in this appeal of Revenue is against the order of CIT(A) in holding that Annual Lettable Value (ALV) should be based on Municipal Rateable Value without appreciating the fact that ALV has to be taken as per the deeming provision of section 23(1) of the Act. For this, Revenue has raised the following ground: - "Whether on the facts and circumstances of the case in law, the Ld. CIT(A) has erred in holding that the ALV should be basedon municipal rateable value without appreciating the fact that as per the deeming provision of section 23(1) of the Act, ALV is higher of the sum for which the property might reasonably be expected to be let ou....

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....idered the submissions of the appellant. This is a recurring issue in appellant's case. This issue was considered by ITAT for A.Y. 2007-08 in ITA No. 672/Mum/2011 in para 9 of the order which is as under: 9. After considering the rival submissions and on perusal of the impugned orders we find that the AO as well as CIT(A) have drawn adverse inference for enhancing the ALV, mainly on the ground that, firstly, the assessee has taken interest free deposit from the tenants and if such deposits would not have been taken, then the rental value would have been more; and secondly, the market rate at which the flat was rented to M/s Futura Polyster Ltd. was much higher than the rent received from assessee from its other tenants i.e. Centuri....

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.... the CIT(A) and hence, this issue of Revenue's appeal is dismissed. 6. The next issue in this appeal of Revenue is against the order of CIT(A) in deleting the disallowance made by Assessing Officer for non-deduction of TDS by invoking the provisions of section 40(a)(ia) of the Act. For this, Revenue has raised the following ground No.2: - "Whether on the facts and circumstances of the case and in law, the Ld. CIT(A) has erred in allowing the appeal of assessee in relation to disallowance under section 40(a)(ia) of the Act for non-deduction of TDS at source without appreciating that assessee had no deducted requisite TDS on the amount credited to the respective expenses account?" 7. Brief facts are that the assessee made provi....