CIT v. Smt. Prabhabati Bansali

141 ITR 419High Court1983#3253 most cited

What is CIT v. Smt. Prabhabati Bansali authority for?

The annual value of a house property for income tax purposes is to be determined based on the higher of the actual rent received or the annual value determined by the municipal/local authority, provided the municipal assessment is contemporaneous and reflects the true annual value. In cases where the property is self-occupied or not actually let, the municipal valuation serves as a reasonable guide for determining the annual letting value.

36

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2024.

Also referred to as

CIT v. Smt. Prabhabati Bansali · 141 ITR 419 · Section 23 · Section 23(1)(a) · Section 22 · annual value · house property · municipal valuation · actual rent · letting value

Sections most often in play

Section 1961Section 22 of the Income Tax ActSection 23 of the Income Tax ActSection 23(1)(a) of the Income Tax ActSection 23(1)(b) of the Income Tax ActSection 25B of the Income Tax Act

Judgments citing CIT v. Smt. Prabhabati Bansali

ACIT-3(1)(1), MUMBAI vs. GENTEX MERCHANTS PVT. LTD., MUMBAI

Appeal of the revenue is partly allowed

ITA 196/MUM/2024[2017-18]Status: DisposedITAT Mumbai11 Jun 2024AY 2017-18

Bench: Ms Padmavathy S, Am & Shri Raj Kumar Chauhan, Jm

For Appellant: Shri Anuj Kisnadwala, CAFor Respondent: Shri Mahesh Parwani, Sr. DR

…to let from year to year" used in section 23(1)(a) hast to be interpreted. 28. The Hon'ble Calcutta High Court in the case of Satya & Co. Ltd 146 CTR 569, CIT Vs Bhaskar Mitter 73 Taxman 437, CIT Vs Poddar Bros. Pvt Ltd 240 ITR 925, CIT Vs Prabhavati Bhansali 141 ITR 419 has consistently held that the annual value of a House Property under Section 23 is to be assessed at higher of the actual rent or the annual value determined by the municipal/local authority. The Full Bench of the Delhi High Court in the case of CIT Vs M.K. Subba (supra) in principle accepted the ratio laid down by the Calcutta High Court and he…

SUMAN GUPTA,MUMBAI vs. DCIT - CC- 4(2), MUMBAI

In the result, appeal of the assessee for assessment year 2015

ITA 3860/MUM/2018[2014-15]Status: DisposedITAT Mumbai27 Apr 2023AY 2014-15

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Ita Nos. 3860 & 3859/Mum/2018 Assessment Years: 2014-15 & 2015-16 Smt. Suman Gupta, Dy. Cit Cc-4(2), 6Th New Harileela House, Air India Building, 19Th Mint Road, Fort, Vs. Floor, Room No. 1918, Mumbai-400 001. Nariman Point, Mumbai-21. Pan No. Ahqpg 0220 P Appellant Respondent Assessee By : Mr. Bhupendra Karkhanis & Mr. Aakash Marthak & Mr. Vijay Bhatt, Ars Revenue By : Dr. Kishor Dhule, Cit-Dr Date Of Hearing : 02/03/2023 : Date Of Pronouncement 27/04/2023 Order

For Appellant: Mr. Bhupendra Karkhanis &For Respondent: Dr. Kishor Dhule, CIT-DR
Section 132(1)Section 143(2)Section 153A

…as followed the Smt. Suman Gupta ITA Nos. 3860 & 3859/M/2018 decision of the Calcutta High Court in CIT V/s Prabhabati Bansali decision of the Calcutta High Court in CIT V/s Prabhabati Bansali decision of the Calcutta High Court in CIT V/s Prabhabati Bansali 141 ITR 419 and concluded that the municipal value is to be 141 ITR 419 and concluded that the municipal value is to be 141 ITR 419 and concluded that the municipal value is to be regarded as the sum for which the property might reasonably be regarded as the sum for which the property might reasonably regarded as the sum for which the property might reasonab…

KRISHNA BUILD HOME PRIVATE LIMITED,JAIPUR vs. INCOME TAX OFFICER, WARD 4(2), JAIPUR, JAIPUR

ITA 143/JPR/2021[2011-2012]Status: DisposedITAT Jaipur29 Mar 2022AY 2011-2012

Bench: The Learned Ao, The Reassessment Proceeding Is Illegal, Bad In Law, Without Jurisdiction & Is Based On Wrong Facts & On Change Of Opinion & In Gross Violation Of Proviso To S. 147 Of The It Act, Which Says No Action Can Be Taken M/S. Krishna Build Home Pvt. Ltd., Jaipur.

For Appellant: Shri Vijay Goyal (CA)For Respondent: Ms Runi Pal (Addl. CIT)
Section 143(3)Section 147Section 23Section 23(5)Section 24

…l Act as the landlord cannot reasonably expect to receive rent from hypothetical tenant anything more than the standard rent determinable under the provisions of Rent Control Act. The Hon’ble Calcutta High Court in the case of CIT vs. Smt. Prabhabati Bansali, 141 ITR 419 (Cal.) as well as the Hon’ble Bombay High Court in case of M.V. Sonavala vs. CIT, 177 ITR 246 (Bom.) have taken a consistent view that annual value of the property for the purpose of municipal taxes should be computed as per the provisions of Rent Control Act for computing the standard rent. Therefore, it is mandate that the AO has to determine t…

KRISHNA BUILD HOME PRIVATE LIMITED,JAIPUR vs. ASST. COMMISSIONER OF INCOME TAX (HOLDING CHARGE OF ITO WARD 4(2)), JAIPUR

ITA 142/JPR/2021[2010-2011]Status: DisposedITAT Jaipur29 Mar 2022AY 2010-2011

Bench: The Learned Ao, The Reassessment Proceeding Is Illegal, Bad In Law, Without Jurisdiction & Is Based On Wrong Facts & On Change Of Opinion & In Gross Violation Of Proviso To S. 147 Of The It Act, Which Says No Action Can Be Taken M/S. Krishna Build Home Pvt. Ltd., Jaipur.

For Appellant: Shri Vijay Goyal (CA)For Respondent: Ms Runi Pal (Addl. CIT)
Section 143(3)Section 147Section 23Section 23(5)Section 24

…l Act as the landlord cannot reasonably expect to receive rent from hypothetical tenant anything more than the standard rent determinable under the provisions of Rent Control Act. The Hon’ble Calcutta High Court in the case of CIT vs. Smt. Prabhabati Bansali, 141 ITR 419 (Cal.) as well as the Hon’ble Bombay High Court in case of M.V. Sonavala vs. CIT, 177 ITR 246 (Bom.) have taken a consistent view that annual value of the property for the purpose of municipal taxes should be computed as per the provisions of Rent Control Act for computing the standard rent. Therefore, it is mandate that the AO has to determine t…

BHIRYANI DADLANI SALES AGENCIES PVT. LTD.,MUMBAI vs. ITO 12(1)(3), MUMBAI

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

ITA 3305/MUM/2019[2009-10]Status: DisposedITAT Mumbai16 Jul 2021AY 2009-10

Bench: Shri Vikas Awasthyआअसं. 3305/मुं/2019 ("न.व. 2009-10) Bhiryani Dadlani Sales Agencies Pvt. Ltd, Shop Nos.10-11, Kenwood Apartment Chs Ltd., Dr.Ambedkar Road, Bandra (West), Mumbai 400 050 Pan: Aabcb- 7448-M ...... अपीलाथ" /Appellant बनाम Vs. Ito- Ward 12(1)(3) Room No.145A, 1St Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent

For Appellant: Shri Vimal PunmiyaFor Respondent: Ms. Smita Verma
Section 23(1)(a)

…roper yardstick for determining annual value. The Tribunal after considering the decisions rendered in the case of M.V. Sonawala vs. CIT (supra), Shiela Kaushish vs. CIT (supra) and the decision of Hon’ble Calcutta High Court in the case of Prabhabati Bansali 141 ITR 419 concluded as under:- “12. Learned counsel for the assessee relied on several other judicial pronouncements in support of his contention that the Municipal value should be the basis of determining the annual value. We are not making reference to those decisions, since, in our opinion the aforesaid pronouncement of Hon'ble Bombay High Court conside…

RAVI K SHETH,MUMBAI vs. DCIT 5(3), MUMBAI

In the result, appeal of the assessee is partly allowed

ITA 4939/MUM/2017[2011-12]Status: DisposedITAT Mumbai07 Jun 2021AY 2011-12

Bench: Shri C.N. Prasad, Hon'Bleshri S. Rifaur Rahman, Hon'Bleshri Ravi K. Sheth V. Dcit – 5(3) C/O Kalyaniwalla & Mistry Llp Room No. 573 2Nd Floor, Esplande House Aayakar Bhavan, M.K. Road 29, Hazarimal Somani Marg Mumbai – 400020 Fort, Mumbai – 400001 Pan: Aaips7341E (Appellant) (Respondent) Assessee By : Shri Percy Paridiwala Department By : Shri Bharat Andhle

For Appellant: Shri Percy ParidiwalaFor Respondent: Shri Bharat Andhle
Section 143(1)Section 143(3)Section 23(1)(a)Section 23(1)(c)Section 23(2)Section 23(4)(b)Section 234BSection 3

…th not on market rent, but is on the annual value and while determining the annual value the municipal valuation is a reasonable guide. 9. Inviting our attention to the decision of the Hon'ble Calcutta High Court in the case of CIT v. Smt Prabhabati Bansali [141 ITR 419] it is submitted that in this case the Assessing Officer took the annual letting value of self-occupied house property on the basis of market rent. However, it is submitted that the Hon'ble High Court held that the Tribunal was correct in determining the annual letting value on the basis of the standard rent under the Rent Control Act. It is subm…

BHIRYANI DADLANI SALES AGENCIES PVT. LTD.,MUMBAI vs. ITO 12(1)(3), MUMBAI

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 3304/MUM/2019[2008-09]Status: DisposedITAT Mumbai25 Mar 2021AY 2008-09

Bench: Shri Vikas Awasthyआअसं. 3303/मुं/2019 ("न.व. 2007-08) आअसं. 3304/मुं/2019 ("न.व. 2008-09) Bhiryani Dadlani Sales Agencies Pvt. Ltd, Shop Nos.10-11, Kenwood Apartment Chs Ltd., Dr.Ambedkar Road, Bandra (West), Mumbai 400 050 Pan: Aabcb 7448M ...... अपीलाथ" /Appellant बनाम Vs. Ito- Ward 12(1)(3) Room No.145A, 1St Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Sushil Kumar Mishra
Section 143(2)Section 148Section 151

…आयकर अपील"य अ"धकरण मुंबई पीठ “एस एम सी” , मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI "ी "वकास अव"थी, "या"यक सद"य के सम" BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 3303/मुं/2019 ("न.व. 2007-08) आअसं. 3304/मुं/2019 ("न.व. 2008-09) Bhiryani Dadlani Sales Agencies PVT. Ltd, Shop Nos.10-11, Kenwood Apartment CHS Ltd., Dr.Ambedkar Road, Bandra (West), Mumbai 400 050 PAN: AABCB 7448M ...... अपीलाथ" /Appellant बनाम Vs. ITO- Ward 12(1)(3) Room No.145A, 1st Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant by : Shri Vimal Punmiya ""तवाद" "…

BHIRYANI DADLANI SALES AGENCIES PVT. LTD.,MUMBAI vs. ITO 12(1)(3), MUMBAI

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 3303/MUM/2019[2007-08]Status: DisposedITAT Mumbai25 Mar 2021AY 2007-08

Bench: Shri Vikas Awasthyआअसं. 3303/मुं/2019 ("न.व. 2007-08) आअसं. 3304/मुं/2019 ("न.व. 2008-09) Bhiryani Dadlani Sales Agencies Pvt. Ltd, Shop Nos.10-11, Kenwood Apartment Chs Ltd., Dr.Ambedkar Road, Bandra (West), Mumbai 400 050 Pan: Aabcb 7448M ...... अपीलाथ" /Appellant बनाम Vs. Ito- Ward 12(1)(3) Room No.145A, 1St Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri Sushil Kumar Mishra
Section 143(2)Section 148Section 151

…आयकर अपील"य अ"धकरण मुंबई पीठ “एस एम सी” , मुंबई IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI "ी "वकास अव"थी, "या"यक सद"य के सम" BEFORE SHRI VIKAS AWASTHY, JUDICIAL MEMBER आअसं. 3303/मुं/2019 ("न.व. 2007-08) आअसं. 3304/मुं/2019 ("न.व. 2008-09) Bhiryani Dadlani Sales Agencies PVT. Ltd, Shop Nos.10-11, Kenwood Apartment CHS Ltd., Dr.Ambedkar Road, Bandra (West), Mumbai 400 050 PAN: AABCB 7448M ...... अपीलाथ" /Appellant बनाम Vs. ITO- Ward 12(1)(3) Room No.145A, 1st Floor, Aaykar Bhavan, M.K.Road, Mumbai 400 020. ..... ""तवाद"/Respondent अपीलाथ" "वारा/ Appellant by : Shri Vimal Punmiya ""तवाद" "…

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

In the result, all the three appeals of the revenue are dismissed

ITA 1242/JPR/2018[2010-11]Status: DisposedITAT Jaipur01 Aug 2019AY 2010-11
For Appellant: Shri S.R. Sharma (CA) &For Respondent: Smt. Neena Jeph (JCIT) fu/kZkfjrh dh vksj ls@
Section 139(1)Section 143(3)Section 147

…to receive rent from hypothetical tenant anything more than the standard rent determinable under the provisions of Rent Control Act. The Hon’ble Calcutta High Court in the M/s. Silver Sand Builders Pvt. Ltd., Jaipur. case of CIT vs. Smt. Prabhabati Bansali, 141 ITR 419 (Cal.) as well as the Hon’ble Bombay High Court in case of M.V. Sonavala vs. CIT, 177 ITR 246 (Bom.) have taken a consistent view that annual value of the property for the purpose of municipal taxes should be computed as per the provisions of Rent Control Act for computing the standard rent. Therefore, it is mandate that the AO has to determine t…

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

In the result, all the three appeals of the revenue are dismissed

ITA 1241/JPR/2018[2009-10]Status: DisposedITAT Jaipur01 Aug 2019AY 2009-10
For Appellant: Shri S.R. Sharma (CA) &For Respondent: Smt. Neena Jeph (JCIT) fu/kZkfjrh dh vksj ls@
Section 139(1)Section 143(3)Section 147

…to receive rent from hypothetical tenant anything more than the standard rent determinable under the provisions of Rent Control Act. The Hon’ble Calcutta High Court in the M/s. Silver Sand Builders Pvt. Ltd., Jaipur. case of CIT vs. Smt. Prabhabati Bansali, 141 ITR 419 (Cal.) as well as the Hon’ble Bombay High Court in case of M.V. Sonavala vs. CIT, 177 ITR 246 (Bom.) have taken a consistent view that annual value of the property for the purpose of municipal taxes should be computed as per the provisions of Rent Control Act for computing the standard rent. Therefore, it is mandate that the AO has to determine t…

INCOME TAX OFFICER, WARD-3-2, JAIPUR vs. SILVER SAND BUILDERS PVT. LTD., JAIPUR

In the result, all the three appeals of the revenue are dismissed

ITA 1240/JPR/2018[2008-09]Status: DisposedITAT Jaipur01 Aug 2019AY 2008-09
For Appellant: Shri S.R. Sharma (CA) &For Respondent: Smt. Neena Jeph (JCIT) fu/kZkfjrh dh vksj ls@
Section 139(1)Section 143(3)Section 147

…to receive rent from hypothetical tenant anything more than the standard rent determinable under the provisions of Rent Control Act. The Hon’ble Calcutta High Court in the M/s. Silver Sand Builders Pvt. Ltd., Jaipur. case of CIT vs. Smt. Prabhabati Bansali, 141 ITR 419 (Cal.) as well as the Hon’ble Bombay High Court in case of M.V. Sonavala vs. CIT, 177 ITR 246 (Bom.) have taken a consistent view that annual value of the property for the purpose of municipal taxes should be computed as per the provisions of Rent Control Act for computing the standard rent. Therefore, it is mandate that the AO has to determine t…

BLUEBERRY TRADING COMPANY P.LTD,MUMBAI vs. DCIT 3(1), MUMBAI

The appeal of the assessee is allowed for statistical purposes

ITA 4264/MUM/2016[2010-11]Status: DisposedITAT Mumbai10 May 2019AY 2010-11

Bench: Shri G.Manjunatha & Shri Ravish Soodblueberry Trading Company The Deputy Commissioner Of Income Pvt. Ltd., Tax-3(1) C/62, Vibgyor Towers, 9Th Floor, Aayakar Bhavan, M.K.Road, Bandra Kurla Complex, Vs. Mumbai-400020 Bandra (East), Mumbai-400 051

For Appellant: Shri Nitesh Joshi, A.RFor Respondent: S/Sh. Abi Rama Kartikiyen
Section 143(2)Section 143(3)Section 23(1)(a)Section 24

…r submitted by the Ld. A.R that ‘annual value’ for Sec. 23(1)(a) has to be the Municipal rateable value or Standard rent, whichever is lower. The Ld. A.R taking support of the judgment of the Hon’ble High Court of Calcutta in CIT Vs. Prabhabati Bansali (1983) 141 ITR 419 (Cal) submitted that the Hon’ble High Court had observed that there was a similarity between the definition of ‘annual value’ as per Sec. 23(1) of the I.T. Act and the definition of the same in the relevant Municipal Corporation Act. The Ld. A.R taking support of the judgment of the Hon’ble High Court of Bombay in the case of CIT Vs. Tip Top Typo…

VIREN VINI AHUJA,MUMBAI vs. ASST CIT CEN CIR 8(4), MUMBAI

In the result the appeal of the assessee is allowed for statistical purposes

ITA 1855/MUM/2017[2012-13]Status: DisposedITAT Mumbai04 Apr 2019AY 2012-13

Bench: Shri Pawan Singh & Shri G. Manjunathavirenvini Ahuja Assistant Commissioner Of Bunglow No.1 Income Tax, Central, Circle- Neelkanth Teerth, 8(4), Mumbai-400021. Road No.6,Chembur, Vs. Mumbai-400 071. Pan: Aacpa4809M Appellant Respondent Appellant By : Shri J.P.Bairagra (Ar) Respondent By : Shri Rajeev Gubgotra (Dr)

For Appellant: Shri J.P.Bairagra (AR)For Respondent: Shri Rajeev Gubgotra (DR)
Section 143(3)Section 23(1)

…e decision of Hon’ble Bombay High Court in the cae of Tip Top Typography 368 ITR 330, M.V. Sonavala Vs. CIT 177 ITR 246(Bombay), CIT vs. Angel Infin (P) Ltd. 225 Taxman 78 (Bombay) and Hon’ble Calcutta High Court in the case of CIT vs. Smt. Prabhabati Bansali 141 ITR 419. The Ld. AR finally submits that the case law relied by the AO in ITO v/s. Chem. Mech (P) Ltd. 83 ITD 427 is not applicable on the facts of the case of assessee. In that case the assessee let out the flats and received interest free security deposit of Rs. 20 Lacs thereby the tribunal held that the interest @12% of the interest free security is t…

MARINE CONTAINER SERVICES,MUMBAI vs. DCIT 12 (2), MUMBAI

In the result this ground of appeal is allowed for statistical

ITA 4158/MUM/2016[2011-12]Status: DisposedITAT Mumbai08 Aug 2018AY 2011-12

Bench: Shri B.R. Baskaran & Shri Pawan Singhm/S Marine Container Services, Dy.Cit, Circle-17(2), Room No. 123, 1St Floor, 71, World Trade Centre, Cuffe Parade, Vs. Aayakar Bhavan, M.K. Road, Mumbai-400005. Mumbai-20. Pan: Aaafm9838J Appellant Respondent Appellant By : Shri B.V. Jhaveri (Ar) Respondent By : Shri T.A. Khan (Dr) Date Of Hearing : 16.05.2018 Date Of Pronouncement : 08.08.2018 Order Under Section 254(1)Of Income Tax Act Per Pawan Singh;

For Appellant: Shri B.V. Jhaveri (AR)For Respondent: Shri T.A. Khan (DR)
Section 143(3)Section 23(1)(a)Section 253Section 254(1)

…tes that the sum for which a building might reasonably be expected to let from year to year may be less than the actual amount received or receivable by the landlord from the tenant". 20. Hon'ble Calcutta High Court in the case of CIT Vs. Prabhabati Bansali, 141 ITR 419 had to deal with a case of a property in Mumbai, where the dispute was with regard to determination of its annual value u/s. 23 of the Act. Hon'ble Calcutta High Court after making reference the decision of Hon'ble Supreme Court in the case of Dewan Daulat Rai Kapoor (supra) and Mrs. Sheila Kaushish (supra) held as follows :- ITA No. 4158 Mum 2…

S.P. CORPORATION,MUMBAI vs. A.C.I.T. RG. 11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

ITA 6298/MUM/2012[2009-10]Status: DisposedITAT Mumbai16 May 2018AY 2009-10

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

For Appellant: Shri Perci PardiwalaFor Respondent: Shri V. Justin
Section 143(3)

…as virtually to place her in the same position as before to establish her legal right as a tenant. 13. The Ld. Counsel for the assessee heavily placing reliance on the decision of the Hon’ble Calcutta High Court in the case of CIT v. Smt. Prabhabati Bansali [141 ITR 419] submitted that rateable value fixed by the Bombay Municipal Corporation should form the basis for computation of the annual value and for the purpose of Section 23 it provides the safest guide for this purpose. Referring to the said decision Ld. Counsel for the assessee submitted that the Hon’ble High Court held that the language of Section 154…

S.P. CORPORATION,MUMBAI vs. A.C.I.T.RG.11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

ITA 2626/MUM/2012[2008-09]Status: DisposedITAT Mumbai16 May 2018AY 2008-09

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

For Appellant: Shri Perci PardiwalaFor Respondent: Shri V. Justin
Section 143(3)

…as virtually to place her in the same position as before to establish her legal right as a tenant. 13. The Ld. Counsel for the assessee heavily placing reliance on the decision of the Hon’ble Calcutta High Court in the case of CIT v. Smt. Prabhabati Bansali [141 ITR 419] submitted that rateable value fixed by the Bombay Municipal Corporation should form the basis for computation of the annual value and for the purpose of Section 23 it provides the safest guide for this purpose. Referring to the said decision Ld. Counsel for the assessee submitted that the Hon’ble High Court held that the language of Section 154…

S.P. CORPORATION,MUMBAI vs. ASST CIT RG 11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

ITA 6857/MUM/2011[2007-08]Status: DisposedITAT Mumbai16 May 2018AY 2007-08

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

For Appellant: Shri Perci PardiwalaFor Respondent: Shri V. Justin
Section 143(3)

…as virtually to place her in the same position as before to establish her legal right as a tenant. 13. The Ld. Counsel for the assessee heavily placing reliance on the decision of the Hon’ble Calcutta High Court in the case of CIT v. Smt. Prabhabati Bansali [141 ITR 419] submitted that rateable value fixed by the Bombay Municipal Corporation should form the basis for computation of the annual value and for the purpose of Section 23 it provides the safest guide for this purpose. Referring to the said decision Ld. Counsel for the assessee submitted that the Hon’ble High Court held that the language of Section 154…

ACIT 11(1), MUMBAI vs. S.P. CORPORATION, MUMBAI

In the result, appeal of the assessee for the Assessment Years

ITA 2747/MUM/2011[2004-05]Status: DisposedITAT Mumbai16 May 2018AY 2004-05

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

For Appellant: Shri Perci PardiwalaFor Respondent: Shri V. Justin
Section 143(3)

…as virtually to place her in the same position as before to establish her legal right as a tenant. 13. The Ld. Counsel for the assessee heavily placing reliance on the decision of the Hon’ble Calcutta High Court in the case of CIT v. Smt. Prabhabati Bansali [141 ITR 419] submitted that rateable value fixed by the Bombay Municipal Corporation should form the basis for computation of the annual value and for the purpose of Section 23 it provides the safest guide for this purpose. Referring to the said decision Ld. Counsel for the assessee submitted that the Hon’ble High Court held that the language of Section 154…

S.P CORPORATION,MUMBAI vs. ACIT RG 11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

ITA 2596/MUM/2011[2006-07]Status: DisposedITAT Mumbai16 May 2018AY 2006-07

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

For Appellant: Shri Perci PardiwalaFor Respondent: Shri V. Justin
Section 143(3)

…as virtually to place her in the same position as before to establish her legal right as a tenant. 13. The Ld. Counsel for the assessee heavily placing reliance on the decision of the Hon’ble Calcutta High Court in the case of CIT v. Smt. Prabhabati Bansali [141 ITR 419] submitted that rateable value fixed by the Bombay Municipal Corporation should form the basis for computation of the annual value and for the purpose of Section 23 it provides the safest guide for this purpose. Referring to the said decision Ld. Counsel for the assessee submitted that the Hon’ble High Court held that the language of Section 154…

S.P CORPORATION,MUMBAI vs. ACIT RG 11(1), MUMBAI

In the result, appeal of the assessee for the Assessment Years

ITA 2595/MUM/2011[2004-05]Status: DisposedITAT Mumbai16 May 2018AY 2004-05

Bench: Shri G.S. Pannu, Hon'Ble & Shri C.N. Prasad, Hon'Ble

For Appellant: Shri Perci PardiwalaFor Respondent: Shri V. Justin
Section 143(3)

…as virtually to place her in the same position as before to establish her legal right as a tenant. 13. The Ld. Counsel for the assessee heavily placing reliance on the decision of the Hon’ble Calcutta High Court in the case of CIT v. Smt. Prabhabati Bansali [141 ITR 419] submitted that rateable value fixed by the Bombay Municipal Corporation should form the basis for computation of the annual value and for the purpose of Section 23 it provides the safest guide for this purpose. Referring to the said decision Ld. Counsel for the assessee submitted that the Hon’ble High Court held that the language of Section 154…

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