Loading judgment…
Facts
Two assessees, R.K.K.R. International Pvt. Ltd. and R.K.K.R. Industries Pvt. Ltd., filed appeals for the Assessment Year 1990-91 against orders related to the determination of Annual Letting Value (ALV). The Hon'ble High Court had previously restored these appeals, along with others for AY 1988-89 and 1989-90, for redetermination, taking into consideration revised rates in subsequent years. The CIT(A) in a previous order for AY 2004-05 had also remitted a similar matter to the AO for substituting figures determined by the NDMC.
Held
The Tribunal allowed the appeals for statistical purposes. It restored the issue of ALV determination for both assessees for the relevant assessment year to the files of the Assessing Officer (AO). The AO was directed to consider the matter and decide afresh in accordance with the directions issued by the CIT(A) on 21.05.2007 for AY 2004-05.
Key Issues
Determination of the Annual Letting Value (ALV) of properties for assessment purposes.
Sections Cited
143(3)
AI-generated summary — verify with the full judgment below
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