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Facts
Two assessees filed appeals for Assessment Year 1990-91 against orders related to assessment under section 143(3). The appeals were restored by the Hon'ble High Court for fresh determination of the Annual Letting Value (ALV) of properties, considering revised rates used by the AO in subsequent years. A previous CIT(A) order for AY 2004-05 had also remitted a similar matter to the AO regarding figures determined by the NDMC.
Held
The Tribunal allowed the appeals for statistical purposes and restored the issue of determination of Annual Letting Value (ALV) for both assessees for AY 1990-91 to the Assessing Officer. The AO was directed to decide the matter afresh, following the directions given by the CIT(A) for AY 2004-05.
Key Issues
Determination of Annual Letting Value (ALV) of properties.
Sections Cited
143(3)
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Income Tax Appellate Tribunal, DELHI BENCHES : F : NEW DELHI
Before: SHRI S. RIFAUR RAHMAN & SHRI ANUBHAV SHARMA
PER ANUBHAV SHARMA, JM:
1. The appeals are by two assessees. The is preferred by the first assessee, R.K.K.R. International Pvt. Ltd., against the order dated 31.03.94 of the Commissioner of Income-tax (Appeals)-VIII, New Delhi (hereinafter referred as Ld. First Appellate Authority or in short Ld. ‘FAA’) in
ITAs No.4090 & 4091/Del/1994 Appeals No. 76/93-94 arising out of the appeal before it against the order dated 26.02.1993 passed u/s 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) by the ACIT, Central Circle-21, New Delhi (hereinafter referred to as the Ld. AO) and is preferred by the second assessee, R.K.K.R. Industries Pvt. Ltd., against the order of the Ld. FAA arising out of the appeal before it against the order passed by the AO also for the Assessment Year 1990-91.
The cases were called and heard. The ld. AR representing both the assessee has pointed out that the present appeals are restored back after the orders of the Hon’ble High Court and that in regard to the issue involved, in the subsequent years the AO himself has taken into consideration the revised rates in estimating the ALP of the properties. In this context, we find that the Hon’ble High Court vide order dated 4/8/2015 has directed that appeals be determined again along with other appeals for AY 1988-89 and 1989-90, which were remanded back earlier by the Hon’ble High Court.
The ld. AR has brought on record the copy of order dated 21.05.2007 for AY 2004-05 of CIT(A)-II, New Delhi, passed in Appeal No.DEL/CIT(A)-II/06- 07/354 whereby the ld.CIT(A) himself has remitted the matter to the AO to substitute the figures as determined by the NDMC. Both the sides submitted that the issues under examination have to be ultimately now to be sent to AO for fresh determination.
ITAs No.4090 & 4091/Del/1994