2026 (5) TMI 721

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.... ORDER PER ANUBHAV SHARMA, JM: This appeal is preferred by the assessee against the order dated 19.09.2024 of the Ld. National Faceless Appeal Centre, Delhi (hereinafter referred as Ld. First Appellate Authority or in short Ld. 'FAA') in DIN &Order No : ITBA/NFAC/S/250/2024-25/1068854597(1)arising out of the order dated 29.01.2021 u/s 143(3) read with sections 143(3A) & 143(3B) of the Incom....

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....me from House Property and the same have been confirmed by the Ld. CIT(A) for which assessee's is in appeal and following grounds have been raised: "1. The learned CIT(A) has erred in confirming the addition of Rs. 88,935 as notional income from house property (shop in Omaxe Plaza, Gurgaon) under Section 23(1) of the Income Tax Act, 1961. This addition was made despite clear evidence that....

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....g the relevant year due to no willing tenants, satisfying the conditions under Section 23(1)(c) for NIL annual value. 4. The appellant reserves the right to amend, alter, add, or withdraw any grounds of appeal during the proceedings. 3. The contention of assessee is that if the property is let out in earlier years but lies vacant in the entire relevant year its annual value is to be ta....

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....able income could be taken for such property. Factually, the AO at page 13 of the order observe that the assessee has shown rental income of 1,05,000/- in AY 2016-17 and after taking 10% increase in the said rent, the rental income of Rs. 1,15,500/- was computed for AY 2017-18 and likewise after increasing 10% thereof, ALV of 2018-19 is computed at Rs. 1,27,050/-. The AO reproduced the computation....