TaxTMI 
TaxTMI 
2021 (12) TMI 703
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....03/2014 by the ld. Dy. Commissioner of Income Tax-17(2)(hereinafter referred to as ld. AO). 2. The assessee has raised the following grounds:- "1. On the facts and circumstances of the case and in Law the Learned Commissioner of Income Tax (Appeals) erred in disallowing the benefit under section 23(2) of the Act to the residential house purchased and used as one residential unit for self use and thereby erred in disallowing the loss of Rs. 150000 from income from self occupied house. 2. On the facts and circumstances of the case and in Law the Learned Commissioner of Income Tax (Appeals) erred in holding that the Appellant did not attend the appeal fixed for hearing on 18.3.2020 and 05.8.2020 without appreciating the fa....
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....tances of the case and in Law the Learned Commissioner of Income Tax (Appeals) erred in passing order without giving final notice for hearing to the Appellant and giving real and sufficient opportunity to defend." 3. We have heard rival submissions and perused the material available on record. We find that assessee is an individual and had filed his return of income for the A.Y.2011-12 on 21/01/2012 declaring total income of Rs. 20,79,861/-. The ld. AO observed that the assessee has shown loss of Rs. 1,50,000/- under the head 'income from house property'. He observed that since assessee had two properties and interest component against loan taken was claimed as loss of Rs. 1,50,000/- and that the interest certificate for housing loan sho....
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....ne residential house; there is no wall dividing the flats; entire house is being used by the assessee and there is only one entrance for the entire house; there is only one kitchen for the entire house. The combined flats were booked together during construction with the builder. Accordingly, he pleaded that the combined two flats should be construed as one residential house. 3.3. We find that the ld. AR placed reliance on the decision of the Hon'ble Jurisdictional High Court in the case of CIT vs. Devdas Naik in Income Tax Appeal No.2483 of 2011 dated 10/06/2014 wherein the similar issue has been addressed in favour of the assessee. We find that though this decision of the Hon'ble Bombay High Court was rendered in the context of claim o....
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....pose of this deduction or the claim. That is contrary to the Legislative intent and also the plain language of section 54 of the Act. Therefore, according to Mr Ahuja, a substantial question of law arises for determination. 4. We are unable to agree. We found that the evidence based on which the claim was granted by the Commissioner of Income Tax (Appeals) and the Income Tax Appellate Tribunal has been noted by the Tribunal in paragraph 4 of its order. Prior thereto, the factual position has also been noticed that the Assessee alongwith his wife jointly owned bungalow. The bungalow was sold at Rs. 3/- crores. With this sum, they bought three flats, one in the Assessees name, another in the name of Assessee and his wife and third in....