What is CIT v. Ansal Housing Finance & Leasing Co. Ltd. authority for?

Annual Letting Value (ALV) of unsold stock-in-trade flats/shops held by a real estate developer can be assessed under Section 22 of the Income Tax Act, 1961, as income from house property. This approach was followed by the Assessing Officer (AO) based on this decision.

How many judgments cite CIT v. Ansal Housing Finance & Leasing Co. Ltd.?

208 judgments on BharatTax cite CIT v. Ansal Housing Finance & Leasing Co. Ltd. (354 ITR 180), spanning 2011 to 2025.

Which sections of the Income Tax Act does CIT v. Ansal Housing Finance & Leasing Co. Ltd. come up under?

It is most often cited in judgments turning on Section 143(3), Section 22, Section 14A, Section 23(5), Section 1961, Section 23.

CIT v. Ansal Housing Finance & Leasing Co. Ltd. (354 ITR 180)

Inder Devi, Faridabad vs. Income Tax Officer, Faridabad

In the result, appeal of the assessee is partly allowed

ITA 1696/DEL/2024[2011-12]Status: DisposedITAT Delhi07 Jan 2025AY 2011-12

Bench: Shri Vikas Awasthy & Shri Amitabh Shuklaआअसं.2627/िद"ी/2013(िन.व. 2008-09) आअसं.1695 और 1696/िद"ी/2016(िन.व. 2009-10 और 2010-11)

For Appellant: Shri Rohit Jain & Ms. Manisha Sharma, Advocates &For Respondent: Shri Ashish Tripathi, Sr. DR

Section 80I

…in so far as vacant residential flat and commercial spaces held as stock in trade, the issue is squarely covered against the assessee by the decision of Hon’ble Jurisdictional High Court in the case of CIT vs. Ansal Housing Finance Leasing Company reported as 354 ITR 180 (Del.) In so far as determination of Notional Annual Letting Value on farm lands, we find that in AY 2005-06 in ITA No. 1254/Del/2009 (supra) in assessee’s own case the Tribunal has restored the issue back to the AO with following directions: 7 ITA Nos. 1695 & 1696/DEL/2016(A.Ys.2009-10 & 2010-11) ITA Nos. 195 & 196/DEL/2015 (A.Ys.2011-12 & 20…

The Commissioner of Income Tax III vs. M/S. Savijana Sea Foods Pvt. Ltd

ITTA/55/2010HC Telangana20 Dec 2024

Bench: J SREENIVAS RAO,ALOK ARADHE

Makewaves Sea Resorts Pvt Ltd, Mumbai vs. The Deputy Commissioner of Income Tax, Circle -4(3)(1), Mumbai

In the result, the appeal of the assessee is allowed

ITA 3861/MUM/2024[2017-18]Status: DisposedITAT Mumbai16 Dec 2024AY 2017-18

Bench: Smt. Beena Pillai & Smt. Renu Jauhrimakewaves Sea Rsorts Pvt. V/S. Dcit, Circle – 4(3)(1) Ltd. बनाम 6Th Floor, Aaykar Bhavan, Construction House – B, Mumbai-400020 2Nd Floor, 623, Linking Road, Khar(West), Mumbai-400052 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacm0673J Appellant/अपीलार्थी .. Respondent/प्रतिवादी

For Appellant: Shri Sanjaj B. SawantFor Respondent: Shri R. R. Makwana

Section 143(3)Section 23(5)Section 250

…erein it was held that in respect of assets held as business, income from the same is not assessable u/s.23(1) of the IT Act. 4. On the other hand, ld. DR relied on the order of Hon'ble Delhi High Court in the case of Ansal Housing Finance & Leasing Co. Ltd., 354 ITR 180 (Delhi) in support of the proposition that even in respect of unsold flats by the developer is liable to be taxed as income from house property. 5. We have considered rival contentions and perused the record. The issue under consideration has been restored by the CIT(A) to the file of AO to compute the annual value. Recently the Hon'ble Supreme C…

Arihant Vastunirman Private Limited, Ratnagiri vs. Assistant Commissioner of Income Tax, Circle 1, Kolhapur

In the result, the appeal filed by the assessee is allowed

ITA 448/PUN/2024[2017-18]Status: DisposedITAT Pune23 Oct 2024AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamoreआयकर अपील सं. / Ita No.448/Pun/2024 िनधा"रण वष" / Assessment Year: 2017-18 Arihant Vastunirman Private Vs. Acit, Circle-1, Kolhapur. Limited, Office No.1, Siddhivinayak Community Hall, Shivaji Nagar, Siddhivinayak Nagar, Ratnagiri- 415612. Pan : Aakca4408K Appellant Respondent Assessee By : Shri Pramod S. Shingte Revenue By : Shri Ramnath P. Murkunde Date Of Hearing : 14.08.2024 Date Of Pronouncement 23.10.2024 : आदेश / Order Per Vinay Bhamore, Jm: This Appeal Filed By The Assessee Is Directed Against The Order Dated 16.02.2024 Passed By Ld. Cit(A)/Nfac For The Assessment Year 2017-18. 2. The Appellant Has Raised The Following Grounds Of Appeal :- “1. On The Facts & Circumstances Of The Case & In Law The Ld. Cit(A) Erred In Confirming The Addition By The A.O. Of Rs.34,14,922/- Representing Notional Rental Income In Respect Of Unsold Flats Forming Part Of Closing Inventory Of The Appellant.

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Ramnath P. Murkunde

Section 143(2)Section 23(4)Section 23(5)

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “A”, PUNE BEFORE SHRI R. K. PANDA, VICE PRESIDENT AND SHRI VINAY BHAMORE, JUDICIAL MEMBER आयकर अपील सं. / ITA No.448/PUN/2024 िनधा"रण वष" / Assessment Year: 2017-18 Arihant Vastunirman Private Vs. ACIT, Circle-1, Kolhapur. Limited, Office No.1, Siddhivinayak Community Hall, Shivaji Nagar, Siddhivinayak Nagar, Ratnagiri- 415612. PAN : AAKCA4408K Appellant Respondent Assessee by : Shri Pramod S. Shingte Revenue by : Shri Ramnath P. Murkunde Date of hearing : 14.08.2024 Date of pronouncement 23.10.2024 : आदेश / ORDER PER VINAY BHAMORE, JM: This appeal filed by the ass…

Vamona Developers Pvt. Ltd, Mumbai vs. Principal Commissioner of Income Tax (Central -2), Mumbai

In the result, the appeal of assessee is allowed

ITA 2507/MUM/2024[2013-14]Status: DisposedITAT Mumbai18 Oct 2024AY 2013-14

Bench: Shri Amit Shukla, Jm & Shri Girish Agrawal, Am

For Appellant: Shri Vijay Mehta, ARFor Respondent: Shri Ankush Kapoor, CIT-DR

Section 143(3)Section 147Section 148Section 22Section 23(1)Section 23(1)(a)Section 24Section 263

…d. The relevant observation and the findings of the AO read as under: “5. The assessee’s submission has been considered, however, the same is not acceptable because- The Hon'ble Delhi High Court in the case of Ansal Housing Finance & Leasing CO. Ltd. vs. CIT [354 ITR 180] held that ALV of flats, built by assessee engaged in construction business, lying unsold, is assessable as income from house property. The same ratio was followed by the Hon'ble Delhi High Court in the case of New Delhi Hotels Ltd. vs. ACIT (2014) 360 ITR 187 (Del.). The ALV of the said flats/shops will have to be taxed as income from House Prop…

Gigeo Construction Co. Pvt. Ltd., Nagpur vs. ACIT, Central Circle- 1(3), Nagpur

In the result, appeal filed by the assessee for the A

ITA 97/NAG/2017[2003-04]Status: DisposedITAT Nagpur09 Sept 2024AY 2003-04

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. Moryani a/wFor Respondent: Shri Kailash C. Kanojiya

Section 40Section 40A(3)

…law, the Ld. CIT (Appeals) has erred in deleting the addition of ALV of the unsold flats under the head income from house property without taking into consideration the decision of the Delhi High Court in the case of Ansal Housing Finance & Leasing Co. Ltd. (354 ITR 180) wherein it has been held that the annual letting value of unsold flats in the closing stock/inventory should be taxed under the head income from house property. 3. Any other ground that may be urged at the time of hearing.” 3. For the assessment year 2008–09, the Revenue in its appeal has raised following grounds:– “1. On the facts and the cir…

Dy. C.I.T. Central Cir.-1(3), Nagpur vs. M/S Gigeo Construction Co.Pvt. Ltd, Nagpur

In the result, appeal filed by the assessee for the A

ITA 488/NAG/2016[2009-10]Status: DisposedITAT Nagpur09 Sept 2024AY 2009-10

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. Moryani a/wFor Respondent: Shri Kailash C. Kanojiya

Section 40Section 40A(3)

…law, the Ld. CIT (Appeals) has erred in deleting the addition of ALV of the unsold flats under the head income from house property without taking into consideration the decision of the Delhi High Court in the case of Ansal Housing Finance & Leasing Co. Ltd. (354 ITR 180) wherein it has been held that the annual letting value of unsold flats in the closing stock/inventory should be taxed under the head income from house property. 3. Any other ground that may be urged at the time of hearing.” 3. For the assessment year 2008–09, the Revenue in its appeal has raised following grounds:– “1. On the facts and the cir…

Dy. C.I.T. Central Cir.-1(3), Nagpur vs. M/S Gigeo Construction Co.Pvt. Ltd, Nagpur

In the result, appeal filed by the assessee for the A

ITA 486/NAG/2016[2007-08]Status: DisposedITAT Nagpur09 Sept 2024AY 2007-08

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

For Appellant: Shri Manoj G. Moryani a/wFor Respondent: Shri Kailash C. Kanojiya

Section 40Section 40A(3)

…law, the Ld. CIT (Appeals) has erred in deleting the addition of ALV of the unsold flats under the head income from house property without taking into consideration the decision of the Delhi High Court in the case of Ansal Housing Finance & Leasing Co. Ltd. (354 ITR 180) wherein it has been held that the annual letting value of unsold flats in the closing stock/inventory should be taxed under the head income from house property. 3. Any other ground that may be urged at the time of hearing.” 3. For the assessment year 2008–09, the Revenue in its appeal has raised following grounds:– “1. On the facts and the cir…

DCIT-CC-4(2), Mumbai vs. Raheja Universal Private Limited, Mumbai

ITA 4847/MUM/2023[2014-15]Status: DisposedITAT Mumbai26 Aug 2024AY 2014-15

Bench: Shri Narender Kumar Choudhry & Shri Girish Agrawal

For Respondent: Shri Anuj Kisnadwala, CA

Section 115JSection 143(1)Section 143(3)Section 147Section 14ASection 22Section 23(1)(a)Section 250

…ection 22, the annual value of any property shall be deemed to be the sum for which the property might reasonably be expected to let from year to year. As per the decision of Hon'ble Delhi High Court in case of Ansal Housing Finance & Leasing Co. Ltd. us. CIT 354 ITR 180 (Del.), 8% of the cost of the house property is treated as the value at which the property might reasonably be expected to be let out during the year as per section 23(1)(a) of the IT Act. Thus, the rental income of the assessee which escaped assessment is worked out to Rs. 2,59,74,142 being 8% of the unsold finished goods of Rs. 32,46,76,775. 4.…

DCIT, New Delhi vs. M/S. M2K Entertainment Pvt. Ltd., New Delhi

In the result, Revenue’s appeal is partly allowed

ITA 6725/DEL/2016[2012-13]Status: DisposedITAT Delhi14 Aug 2024AY 2012-13

Bench: Shri Kul Bharat & Shri Brajesh Kumar Singhasstt. Yr: 2012-13

Section 143(3)Section 14ASection 2(24)(x)Section 24Section 36(1)(va)Section 43B

…(A) is legally justified in deleting addition of Rs. 4,75,75,902/- made by the AO on account of 'income from house property' by ignoring the ratio decedendi as held by Hon'ble jurisdictional High court in case of CIT Vs Ansal Housing Finance & Leasing Co. Ltd 354 ITR 180? 4.1 Whether in facts and circumstances of the case, the Ld. CIT(A) is legally justified in deleting addition of Rs. 4,75,75,902/- on account of 'income from house property' by ignoring a fact that the AO had made addition on the basis of enquiry made during the year under consideration and taking into account peculiar facts on the case? 5. That…

ITO, New Delhi vs. M/S Ansal Housing & Construction Ltd., New Delhi

In the result, the cross-objection filed by the assessee is dismissed

ITA 2731/DEL/2010[2007-08]Status: DisposedITAT Delhi26 Jul 2024AY 2007-08

Bench: Shri G.S.Pannu & Shri Kul Bharat[Assessment Year : 2007-08] Dcit, Vs Ansal Housing & Construction Ltd., Central Circle-20, Ugf-15, Indraprastha Building, 21, New Delhi. Barakhamba Road, New Delhi. Pan-Aaaca0377R Appellant Respondent

Section 143(3)Section 14ASection 80Section 80I

…s held as stock-in-trade being assessable under the head “income from house property” u/s 22 of the Act, stood decided against the assessee by the judgement of Hon’ble Delhi High Court in assessee’s own case for Assessment Years 1988-89 to 1998-99 reported in 354 ITR 180 (Del.HC). It was contended that the issue whether annual letting value of residential units held as stock in trade at the end of the year, was to be assessed under the head “income from house property” u/s 22 of the Act had been decided against the assessee by the Hon’ble Delhi High Court vide judgement dated 31.10.2012 in ITA Nos.18/1999, 56, 57…

Surana Mutha Bhansali, Pune vs. ACIT-Circle 5 Pune, Pune

In the result, the appeal filed by the assessee is partly allowed

ITA 1442/PUN/2023[2017-18]Status: DisposedITAT Pune28 Jun 2024AY 2017-18

Bench: Shri R. K. Panda & Shri Vinay Bhamoreassessment Year : 2017-18

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri Sourabh Nayak, Addl.CIT

Section 143(2)Section 270A(1)Section 270A(9)Section 43CSection 80I

…come from finished stock of flats is to be computed under the head income from business. The AO rejected the same, but however, placing reliance on the decision of Hon’ble High Court of Delhi in the case of Ansal Housing Finance & Leasing Co. Ltd. reported in 354 ITR 180 (Delhi) imposed ALV on account of deemed rent on finished stock by adopting annual letting value at 7% of the investment cost of flats (WIP value). The CIT(A) confirmed the view of AO. On careful examination of the order dated 12-09-2018 in the case of M/s. Cosmopolis Construction (supra) by this Tribunal, we find the Tribunal considered the deci…

Assistant Commissioner of Incometax Circle 8(3)(1), Mumbai vs. Tata Housing Development Company Limited, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 171/MUM/2024[2015-16]Status: DisposedITAT Mumbai27 May 2024AY 2015-16

Bench: SHRI AMIT SHUKLA (Judicial Member), SHRI RATNESH NANDAN SAHAY (Accountant Member)

Section 143(3)Section 263

…stances of the case, the Ld. CIT(A) was justified in holding the order dated 27.06.2019 passed u/s.143(3) r.w.s.263 of the IT Act as infructuous, ignoring the ratio of Hon'ble Delhi High Court's decision in the case of Ansal Housing & Finance leasing Co. Ltd (354 ITR 180) which is applicable to the facts to this case? 4. Whether, on the facts and in the circumstances of the case, the Ld. CIT(A) was justified in holding the order dated 27.06.2019 passed w/s.143(3) r.w.s.263 of the IT Act as infructuous, which is passed on the basis of order u/s.263 of the Act which is a valid order and is the lawful application of…

Mack Star Marketing Pvt Ltd, Mumbai vs. NFAC, Delhi

In the result, appeal of the assessee is allowed in part for statistical purposes

ITA 1812/MUM/2023[2014-15]Status: DisposedITAT Mumbai19 Apr 2024AY 2014-15

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Ble

Section 23

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON'BLE ACCOUNTANT MEMBER AND SHRI SUNIL KUMAR SINGH, HON'BLE JUDICIAL MEMBER ITA NOs. 1709 & 1812/MUM/2023 (A.Ys: 2012-13 & 2014-15) Mack Star Marketing Private Limited v. National Faceless Appeal Centre Delhi Tower B, 1102, Peninsula Business Park S.B. Road, Lower Parel Mumbai - 400013 PAN: AADCM7564K (Appellant) (Respondent) Assessee Represented by : Shri Himanshu S. Sinha Shri Yash Varmani & Shri Utkarsh Mittal Department Represented by : Ms. Sanyogita Nagpal Date of conclusion of Hearing : 17.04.2024 Date of P…

Mack Star Marketing Pvt Ltd, Mumbai vs. NFAC, Delhi

In the result, appeal of the assessee is allowed in part for statistical purposes

ITA 1709/MUM/2023[2012-13]Status: DisposedITAT Mumbai19 Apr 2024AY 2012-13

Bench: Shri Narendra Kumar Billaiya, Hon'Ble & Shri Sunil Kumar Singh, Hon'Ble

Section 23

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “D”, MUMBAI BEFORE SHRI NARENDRA KUMAR BILLAIYA, HON'BLE ACCOUNTANT MEMBER AND SHRI SUNIL KUMAR SINGH, HON'BLE JUDICIAL MEMBER ITA NOs. 1709 & 1812/MUM/2023 (A.Ys: 2012-13 & 2014-15) Mack Star Marketing Private Limited v. National Faceless Appeal Centre Delhi Tower B, 1102, Peninsula Business Park S.B. Road, Lower Parel Mumbai - 400013 PAN: AADCM7564K (Appellant) (Respondent) Assessee Represented by : Shri Himanshu S. Sinha Shri Yash Varmani & Shri Utkarsh Mittal Department Represented by : Ms. Sanyogita Nagpal Date of conclusion of Hearing : 17.04.2024 Date of P…

DCIT 14(1)(1), Mumbai, Aayakar Bhawan vs. Neelkanth Urban Developers Pvt. Ltd, Mumbai

ITA 2408/MUM/2023[2017-18]Status: DisposedITAT Mumbai26 Mar 2024AY 2017-18

Section 143(3)Section 23Section 23(1)(a)Section 23(5)

…en assessed under the head income from house property. 11. After making the above observations, the Tribunal, taking into consideration the judgment of the Hon'ble Delhi High Court in the case of CIT Vs. Ansal Housing Finance & Leasing Company Limited: [2013] 354 ITR 180 (Delhi) [31-10-2012], as well as the provisions of Section 23(5) of the Act, concluded as under: “15. Now, coming to the decision of Hon'ble Delhi High Court in the case of CIT Vs. Ansal Housing Finance & Leasing Company Ltd (Supra), one of the question of law referred before the Hon'ble High Court was as under; “Whether the assessee was liable t…

Sai Builders and Developers, Vashi vs. PCIT-27, Vashi

In the result, the appeal filed by the assessee is partly allowed

ITA 1916/MUM/2023[2018-19]Status: DisposedITAT Mumbai13 Mar 2024AY 2018-19

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyalsaibuildersanddevelopers, Vs Pr.Cit-27, B12,Ashiana,Plotno.15, Roomno.401, Sector17,Vashi, 4Thflr,Towerno.6, Navi Mumbai-400703. Vashi Railway Stationcomplex,Vashi, Navimumbai-400703. Pan/Gir No. : Abbfs0092C Appellant .. Respondent

For Appellant: Shri.K.Gopal&Shri.OmKandalkar.ARFor Respondent: Shri.Hiren M Bhatt. Sr.DR

Section 143(3)Section 263

…ification of the statement of income, it is seen that assessee has not offered any income under the head 'income from house property 5. The Hon'ble Delhi High Court in the case of Commissioner of Income Tax Vs. Ansal Housing Finance and Leasing Company Ltd. (354 ITR 180) pronounced on 31.10.2012 under similar facts and circumstances, wherein it was held that flats held as part of inventory of stock in trade and are not let out are eligible for consideration for ALV to determine the tax, regardless of whether actual income is received or not. 6. Since the mentioned issues have not been fully considered during th…

The DCIT, Central Circle-1(1), Ahmedabad vs. M/S. Venus Infrastructure & Developers Pvt. Ltd., Ahmedabad

In the result, the appeal of the Revenue is hereby dismissed

ITA 38/AHD/2021[2017-18]Status: DisposedITAT Ahmedabad14 Feb 2024AY 2017-18

Bench: Ms Suchitra Kamble & Shri Waseem Ahmedआयकरअपीलसं./Ita Nos. 37 & 38/Ahd/2021 धििाधरणणवध/Asstt. Years: 2008-09 & 2017-18 D.C.I.T, M/S Venus Infrastructure & Central Circle-1(1), Vs. Developers Pvt. Ltd., Ahmedabad 1101 Venus Amadeus, Jodhpur Cross Road, Ahmedabad-380015. Pan: Aahcs6254J (Applicant) (Respondent) Revenue By : Shri Akhilendra Pratap Yadaw Assessee By : Shri Tushar Hemani, Sr. Advocate With Shri Parimalsinh B. Parmar & Shri Vijay Govani A.Rs सुिणाईकीतारीख/Date Of Hearing : 08/02/2024 घोवणाकीतारीख/Date Of Pronouncement: 14/02/2024 आदेश/O R D E R Per Waseem Ahmed: The Captioned Two Appeal Have Been Filed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals)-11, Ahmedabad, Of Even Dated 20/01/2021 Arising In The Matter Of Assessment Order Passed Under S. 147 R.W.S. 143(3) & 143(3) Of The Income Tax Act 1961 (Here- In-After Referred To As "The Act") Relevant To The Assessment Years 2008-09 & 2017-18. First, We Take Up Ita No. 38/Ahd/2021, An Appeal By The Revenue For Ay 2017-18

For Appellant: ShriFor Respondent: Shri Akhilendra Pratap Yadaw

Section 80Section 80I

…ubordinate Tribunals and, all of sudden, the Tribunal started applying the analogy." 9. Admittedly, the lower authorities had relied on the judgement of the Hon"ble High Court of Delhi in the case of CIT Vs. Ansa! Housing Finance & Leasing Company Ltd. (2013) 354 ITR 180 (Delhi) and had therein concluded that the notional lettable value of the unsold flats held by the assessee was liable to be determined and brought to tax under the/TA No.4420/Mum/2017 Mis. Saranga Estates Pvl. Ltd., head ..Income from house property". We find that the issue under consideration before us i.e whether the notional lettable value of…

The DCIT, Central Circle-1(1), Ahmedabad vs. M/S. Venus Infrastructure & Developers Pvt. Ltd., Ahmedabad

In the result, the appeal of the Revenue is hereby dismissed

ITA 37/AHD/2021[2008-09]Status: DisposedITAT Ahmedabad14 Feb 2024AY 2008-09

Bench: Ms Suchitra Kamble & Shri Waseem Ahmedआयकरअपीलसं./Ita Nos. 37 & 38/Ahd/2021 धििाधरणणवध/Asstt. Years: 2008-09 & 2017-18 D.C.I.T, M/S Venus Infrastructure & Central Circle-1(1), Vs. Developers Pvt. Ltd., Ahmedabad 1101 Venus Amadeus, Jodhpur Cross Road, Ahmedabad-380015. Pan: Aahcs6254J (Applicant) (Respondent) Revenue By : Shri Akhilendra Pratap Yadaw Assessee By : Shri Tushar Hemani, Sr. Advocate With Shri Parimalsinh B. Parmar & Shri Vijay Govani A.Rs सुिणाईकीतारीख/Date Of Hearing : 08/02/2024 घोवणाकीतारीख/Date Of Pronouncement: 14/02/2024 आदेश/O R D E R Per Waseem Ahmed: The Captioned Two Appeal Have Been Filed At The Instance Of The Revenue Against The Order Of The Learned Commissioner Of Income Tax (Appeals)-11, Ahmedabad, Of Even Dated 20/01/2021 Arising In The Matter Of Assessment Order Passed Under S. 147 R.W.S. 143(3) & 143(3) Of The Income Tax Act 1961 (Here- In-After Referred To As "The Act") Relevant To The Assessment Years 2008-09 & 2017-18. First, We Take Up Ita No. 38/Ahd/2021, An Appeal By The Revenue For Ay 2017-18

For Appellant: ShriFor Respondent: Shri Akhilendra Pratap Yadaw

Section 80Section 80I

…ubordinate Tribunals and, all of sudden, the Tribunal started applying the analogy." 9. Admittedly, the lower authorities had relied on the judgement of the Hon"ble High Court of Delhi in the case of CIT Vs. Ansa! Housing Finance & Leasing Company Ltd. (2013) 354 ITR 180 (Delhi) and had therein concluded that the notional lettable value of the unsold flats held by the assessee was liable to be determined and brought to tax under the/TA No.4420/Mum/2017 Mis. Saranga Estates Pvl. Ltd., head ..Income from house property". We find that the issue under consideration before us i.e whether the notional lettable value of…

Surana Mutha Bhansali Developers, Pune vs. ITO, Ward 5(4), Pune

In the result, the appeal of assessee is allowed

ITA 1313/PUN/2023[2014-15]Status: DisposedITAT Pune23 Jan 2024AY 2014-15

Bench: Shri S.S. Viswanethra Ravi & Dr. Dipak P. Ripote

For Appellant: Shri Neelesh KhandelwalFor Respondent: Shri M.G. Jasnani

Section 143(2)Section 143(3)Section 80I

…come from finished stock of flats is to be computed under the head income from business. The AO rejected the same, but however, placing reliance on the decision of Hon’ble High Court of Delhi in the case of Ansal Housing Finance & Leasing Co. Ltd. reported in 354 ITR 180 (Delhi) imposed ALV on account of deemed rent on finished stock by adopting annual letting value at 7% of the investment cost of flats (WIP value). The CIT(A) confirmed the view of AO. On careful examination of the order dated 12-09-2018 in the case of M/s. Cosmopolis Construction (supra) by this Tribunal, we find the Tribunal considered the deci…

CIT v. Ansal Housing Finance & Leasing Co. Ltd.

What is CIT v. Ansal Housing Finance & Leasing Co. Ltd. authority for?

Also referred to as

Also reported as

Sections most often in play

Issues it is cited on

Judgments citing CIT v. Ansal Housing Finance & Leasing Co. Ltd.

Inder Devi, Faridabad vs. Income Tax Officer, Faridabad

The Commissioner of Income Tax III vs. M/S. Savijana Sea Foods Pvt. Ltd

Makewaves Sea Resorts Pvt Ltd, Mumbai vs. The Deputy Commissioner of Income Tax, Circle -4(3)(1), Mumbai

Arihant Vastunirman Private Limited, Ratnagiri vs. Assistant Commissioner of Income Tax, Circle 1, Kolhapur

Vamona Developers Pvt. Ltd, Mumbai vs. Principal Commissioner of Income Tax (Central -2), Mumbai

Gigeo Construction Co. Pvt. Ltd., Nagpur vs. ACIT, Central Circle- 1(3), Nagpur

Dy. C.I.T. Central Cir.-1(3), Nagpur vs. M/S Gigeo Construction Co.Pvt. Ltd, Nagpur

Dy. C.I.T. Central Cir.-1(3), Nagpur vs. M/S Gigeo Construction Co.Pvt. Ltd, Nagpur

DCIT-CC-4(2), Mumbai vs. Raheja Universal Private Limited, Mumbai

DCIT, New Delhi vs. M/S. M2K Entertainment Pvt. Ltd., New Delhi

ITO, New Delhi vs. M/S Ansal Housing & Construction Ltd., New Delhi

Surana Mutha Bhansali, Pune vs. ACIT-Circle 5 Pune, Pune

Assistant Commissioner of Incometax Circle 8(3)(1), Mumbai vs. Tata Housing Development Company Limited, Mumbai

Mack Star Marketing Pvt Ltd, Mumbai vs. NFAC, Delhi

Mack Star Marketing Pvt Ltd, Mumbai vs. NFAC, Delhi

DCIT 14(1)(1), Mumbai, Aayakar Bhawan vs. Neelkanth Urban Developers Pvt. Ltd, Mumbai

Sai Builders and Developers, Vashi vs. PCIT-27, Vashi

The DCIT, Central Circle-1(1), Ahmedabad vs. M/S. Venus Infrastructure & Developers Pvt. Ltd., Ahmedabad

The DCIT, Central Circle-1(1), Ahmedabad vs. M/S. Venus Infrastructure & Developers Pvt. Ltd., Ahmedabad

Surana Mutha Bhansali Developers, Pune vs. ITO, Ward 5(4), Pune