TaxTMI 
TaxTMI 
2020 (2) TMI 1477
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....ual. She owns certain premises at Central Garden Complex, Chuna Bhatti, Mumbai. For the assessment year under consideration, the assessee filed her return of income on 28th July 2010, declaring total income of Rs. 4,65,69,340. In the return of income so filed, the assessee offered income of Rs. 14,19,474, under the head "Income From House Property" by determining the ALV of the vacant premises owned by her as per Municipal Ratable Value (MRV). While completing the assessment under section 143(3) of the Act vide order dated 3rd December 2012, the Assessing Officer determined the total income at Rs. 6,31,16,860, thereby, enhancing the ALV to Rs. 2,51,97,600. Against the assessment order so passed, the assessee preferred appeal before the firs....
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....nt during the assessment year 2010-11 and also thereafter till the assessment year 2015-16 and further, he observed that on identical facts involving similar nature of dispute, both, the Commissioner (Appeals) and the Tribunal have uniformly held that the MRV has to be taken as ALV, however, relying upon his own order passed in case of some other family members including Laxmi Satyapal Jain for the assessment year 2013-14 and 2014-15, he directed the Assessing Officer to re-compute the ALV by taking the MRV as the base and increase it by 5% every year to arrive at the ratable value for the impugned assessment year. Further, he directed the Assessing Officer to enhance the value so arrived at by 1/9th of the said value to determine the ALV. ....
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....ive strongly relied upon the observations of the Assessing Officer. 8. We have considered rival submissions and perused the material on record. Undisputed facts are, the assessee is the owner of certain premises in a housing complex which remained vacant during the year under consideration. However, in the return of income filed for the impugned assessment year, the assessee offered income from such house property by determining the ALV under section 23 of the Act as per MRV. Whereas, the Assessing Officer has determined the ALV on the basis of rent received by the assessee in the assessment year 2015-16. However, learned Commissioner (Appeals) has directed the Assessing Officer to re-compute the ALV by taking the MRV as the base and incre....