Kashi Prasad Kataruka v. CIT

101 ITR 810High Court1975#3538 most cited

What is Kashi Prasad Kataruka v. CIT authority for?

The Income Tax Officer may determine the annual letting value of a property based on material and evidence if the rateable value under municipal laws does not represent the correct fair rent. This determination is for the purposes of Section 23 of the Income Tax Act.

33

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2011 to 2022.

Also referred to as

Kashi Prasad Kataruka v. CIT · section 23(1)(a) · section 23 · annual letting value · rateable value · fair rent · municipal laws · income tax officer determination

Issues it is cited on

section 23(1)(a)section 24(1)tax recovery officersection 23(1)annual letting valueinterest on interestannual valuesection 2(47)section 220section 22section 54fsection 24

Judgments citing Kashi Prasad Kataruka v. CIT

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

In the result, two appeals for AY 2000-01 and 2005-06 are partly allowed and Appeal for AY 2006-

ITA 3143/MUM/2010[2006-07]Status: DisposedITAT Mumbai31 Oct 2022AY 2006-07

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Jeet Kamdar, ARFor Respondent: Shri Vranda U Matkarni, DR
Section 220

…rent, however, enabled itself to enjoy substantial funds without paying any interest. The arrangement does not confirm to the normal commercial or prudential norms. Mr. Bharat K. Sheth; A.Ys. 00-01, 05-06 & 06-07 6.2 It has been held by the Patna High Court (101 ITR 810) that Municipal Valuation affords an indication as to the reasonable Annual Letting Value of a building but the same can be rebutted on the basis of other materials on record. In such a case, the Annual Value may be determined either at a reduced or enhanced figure than that of Municipal Valuation. Similarly, Delhi High Court, in the case of CIT…

BHARAT K. SHETH,MUMBAI vs. ACIT 5(3), MUMBAI

In the result, two appeals for AY 2000-01 and 2005-06 are partly allowed and Appeal for AY 2006-

ITA 3142/MUM/2010[2005-06]Status: DisposedITAT Mumbai31 Oct 2022AY 2005-06

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Jeet Kamdar, ARFor Respondent: Shri Vranda U Matkarni, DR
Section 220

…rent, however, enabled itself to enjoy substantial funds without paying any interest. The arrangement does not confirm to the normal commercial or prudential norms. Mr. Bharat K. Sheth; A.Ys. 00-01, 05-06 & 06-07 6.2 It has been held by the Patna High Court (101 ITR 810) that Municipal Valuation affords an indication as to the reasonable Annual Letting Value of a building but the same can be rebutted on the basis of other materials on record. In such a case, the Annual Value may be determined either at a reduced or enhanced figure than that of Municipal Valuation. Similarly, Delhi High Court, in the case of CIT…

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

In the result, two appeals for AY 2000-01 and 2005-06 are partly allowed and Appeal for AY 2006-

ITA 3141/MUM/2010[2000-01]Status: DisposedITAT Mumbai31 Oct 2022AY 2000-01

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Shri Jeet Kamdar, ARFor Respondent: Shri Vranda U Matkarni, DR
Section 220

…rent, however, enabled itself to enjoy substantial funds without paying any interest. The arrangement does not confirm to the normal commercial or prudential norms. Mr. Bharat K. Sheth; A.Ys. 00-01, 05-06 & 06-07 6.2 It has been held by the Patna High Court (101 ITR 810) that Municipal Valuation affords an indication as to the reasonable Annual Letting Value of a building but the same can be rebutted on the basis of other materials on record. In such a case, the Annual Value may be determined either at a reduced or enhanced figure than that of Municipal Valuation. Similarly, Delhi High Court, in the case of CIT…

AMAL ALLANA,NEW DELHI vs. ITO WARD-30(1), NEW DELHI

In the result, the appeal filed by the assessee is

ITA 4371/DEL/2019[2015-16]Status: DisposedITAT Delhi23 Dec 2021AY 2015-16

Bench: Shri R.K. Panda[Assessment Year: 2015-16]

Section 154Section 22Section 24

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH, ‘SMC’: NEW DELHI (Through Video Conferencing) BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER [Assessment Year: 2015-16] Mrs. Amal Allana, Income Tax Officer, E-30, Greater Kailash, Ward-30(1), New Delhi-110048 New Delhi PAN-ACCPA8359A Assessee Revenue Assessee by Sh. Ashok Kumar Batra, CA Revenue by Sh. Om Prakash, Sr. DR Date of Hearing 15.11.2021 Date of Pronouncement 23.12.2021 ORDER This appeal filed by the assessee is directed against the order dated 08.03.2019 of the learned CIT(A)-10, New Delhi, relating to Assessment Year 2015-16. 2. Facts of the case, in…

MLL LOGISTICS PVT. LTD.,MUMBAI vs. ACIT - 3(2)(1), MUMBAI

In the result, appeal is partly allowed

ITA 164/MUM/2019[2013-14]Status: HeardITAT Mumbai18 Nov 2021AY 2013-14

Bench: Shri G.S. Pannu (Hon’Ble) & Shri Saktijit Dey (Hon’Ble)

Section 115JSection 133(6)

…ue under municipal laws does not represent the correct fair rent, then he may determine the same on the basis of material/ evidence placed on record. This view is fortified by the decision of Patna High Court in the case of Kashi Prasad Kataruka v. CIT [1975] 101 ITR 810. The above discussion leads to the following conclusions: (i) ALV would be the sum at which the property may be reasonably let out by a willing lessor to a willing lessee uninfluenced by any extraneous circumstances. (ii) An inflated or deflated rent based on extraneous,, consideration may take it out of the bounds of reasonableness. (iii) Actual…

BHARAT K SHETH,MUMBAI vs. DCIT RG 5(3), MUMBAI

Appeals stand allowed in terms of our above order

ITA 4648/MUM/2015[2011-12]Status: DisposedITAT Mumbai17 Dec 2020AY 2011-12

Bench: Hon’Ble Shri Saktijit Dey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) 1. आयकर अपील सं./ I.T.A. No.2140/Mum/2002 (िनधा"रण वष" / Assessment Year: 1998-99) & 2. आयकर अपील सं./ I.T.A. No.1527/Mum/2005 (िनधा"रण वष" / Assessment Year: 1999-2000) & 3. आयकर अपील सं./ I.T.A. No.2822/Mum/2006 (िनधा"रण वष" / Assessment Year: 2001-02) & 4. आयकर अपील सं./ I.T.A. No.2747/Mum/2012 (िनधा"रण वष" / Assessment Year: 2002-03) & 5. आयकर अपील सं./ I.T.A. No.2748/Mum/2012 (िनधा"रण वष" / Assessment Year: 2003-04) & 6. आयकर अपील सं./ I.T.A. No.2749/Mum/2012 (िनधा"रण वष" / Assessment Year: 2004-05) & 7. आयकर अपील सं./ I.T.A. No.8547/Mum/2010 (िनधा"रण वष" / Assessment Year: 2007-08) & 8. आयकर अपील सं./ I.T.A. No.2746/Mum/2012 (िनधा"रण वष" / Assessment Year: 2008-09) & 9. आयकर अपील सं./ I.T.A. No.2251/Mum/2018 (िनधा"रण वष" / Assessment Year: 2010-11) & 10. आयकर अपील सं./ I.T.A. No.4648/Mum/2015 (िनधा"रण वष" / Assessment Year: 2011-12) & 11. आयकर अपील सं./ I.T.A. No.2252/Mum/2018 (िनधा"रण वष" / Assessment Year: 2012-13) &

For Appellant: Shri Percy Pardiwala-Ld.Sr. CounselFor Respondent: Shri Oommen Thorian -Ld. Sr.DR
Section 143(3)Section 234A

…e by which the appellant though received nominal rent, however, enabled itself to enjoy substantial funds without paying any interest. The arrangement does not confirm to the normal commercial or prudential norms. 6.2 It has been held by the Patna High Court (101 ITR 810) that Municipal Valuation affords an indication as to the reasonable Annual Letting Value of a building but the same can be rebutted on the basis of other materials on record. In such a case, the Annual Value may be determined either at a reduced or enhanced figure than that of Municipal Valuation. Similarly, Delhi High Court, in the case of CIT…

BHARAT K SHETH,MUMBAI vs. DCIT RG 5(3)(2), MUMBAI

Appeals stand allowed in terms of our above order

ITA 2253/MUM/2018[2013-14]Status: DisposedITAT Mumbai17 Dec 2020AY 2013-14

Bench: Hon’Ble Shri Saktijit Dey, Jm & Hon’Ble Shri Manoj Kumar Aggarwal, Am (Hearing Through Video Conferencing Mode) 1. आयकर अपील सं./ I.T.A. No.2140/Mum/2002 (िनधा"रण वष" / Assessment Year: 1998-99) & 2. आयकर अपील सं./ I.T.A. No.1527/Mum/2005 (िनधा"रण वष" / Assessment Year: 1999-2000) & 3. आयकर अपील सं./ I.T.A. No.2822/Mum/2006 (िनधा"रण वष" / Assessment Year: 2001-02) & 4. आयकर अपील सं./ I.T.A. No.2747/Mum/2012 (िनधा"रण वष" / Assessment Year: 2002-03) & 5. आयकर अपील सं./ I.T.A. No.2748/Mum/2012 (िनधा"रण वष" / Assessment Year: 2003-04) & 6. आयकर अपील सं./ I.T.A. No.2749/Mum/2012 (िनधा"रण वष" / Assessment Year: 2004-05) & 7. आयकर अपील सं./ I.T.A. No.8547/Mum/2010 (िनधा"रण वष" / Assessment Year: 2007-08) & 8. आयकर अपील सं./ I.T.A. No.2746/Mum/2012 (िनधा"रण वष" / Assessment Year: 2008-09) & 9. आयकर अपील सं./ I.T.A. No.2251/Mum/2018 (िनधा"रण वष" / Assessment Year: 2010-11) & 10. आयकर अपील सं./ I.T.A. No.4648/Mum/2015 (िनधा"रण वष" / Assessment Year: 2011-12) & 11. आयकर अपील सं./ I.T.A. No.2252/Mum/2018 (िनधा"रण वष" / Assessment Year: 2012-13) &

For Appellant: Shri Percy Pardiwala-Ld.Sr. CounselFor Respondent: Shri Oommen Thorian -Ld. Sr.DR
Section 143(3)Section 234A

…e by which the appellant though received nominal rent, however, enabled itself to enjoy substantial funds without paying any interest. The arrangement does not confirm to the normal commercial or prudential norms. 6.2 It has been held by the Patna High Court (101 ITR 810) that Municipal Valuation affords an indication as to the reasonable Annual Letting Value of a building but the same can be rebutted on the basis of other materials on record. In such a case, the Annual Value may be determined either at a reduced or enhanced figure than that of Municipal Valuation. Similarly, Delhi High Court, in the case of CIT…

SRI SANJIV DUA,KOLKATA vs. ACIT, CIRCLE-36, KOLKATA, KOLKATA

In the result, the appeal of the assessee is dismissed

ITA 1807/KOL/2016[2011-12]Status: DisposedITAT Kolkata01 Oct 2019AY 2011-12
For Appellant: Shri Amit Saraj, FCAFor Respondent: Shri Nicolas Murmu, Addl. CIT, DR
Section 143(3)

…ue under municipal laws does not represent the correct fair rent, then he may determine the same on the basis of material/ evidence placed on record. This view is fortified by the decision of Patna High Court in the case of Kashi Prasad Kataruka v. CIT [1975] 101 ITR 810.” 9. In the aforementioned decision, the Full Bench of Hon’ble High Court of Delhi approved the ratio laid down by the Hon’ble High Court of Calcutta in the case of Satya Co. Ltd. (supra) and held the Assessing I.T.A No.1807/Kol/2016 Sri Sanjiv Dua Officer can ignore the municipal valuation for determining annual letting value if he finds that…

ITO 1(1)(2), MUMBAI vs. CYRUS INVESTMENT P.LTD, MUMBAI

In the result, appeal of the Revenue is dismissed

ITA 299/MUM/2017[2013-14]Status: DisposedITAT Mumbai26 Sept 2018AY 2013-14

Bench: Shri G.S. Pannu & Shri Pawan Singhito- 1(1)(2) M/S Cyrus Investments Pvt. Ltd. 534, Aayakar Bhavan, M.K. 41/44, Shahpoorji Pallonji Centre, Road, Mumbai-400020. Vs. Minoo Desai Marg, Colaba, Mumbai-400005. Pan: Aaacc2880P Appellant Respondent

For Appellant: Shri Love Kumar (DR)For Respondent: Shri Biharilal (AR)
Section 14ASection 23(1)Section 23(1)(a)Section 253Section 254(1)

…alue under municipal laws does not represent the correct fair rent, then he may determine the same on the basis of material/evidence placed on record. This view is fortified by the decision of Patna High Court in the case of Kashi Prasad Kataruka v. CIT(1975) 101 ITR 810. The above discussion leads to the following conclusions: (i) ALV would be the sum at which the property may be reasonably let out by a willing lessor to a willing lessee uninfluenced by any extraneous circumstances. I.T.A. No.6414/Mum/2016 (ii) An inflated or deflated rent based on extraneous consideration may take it out of the bounds of reason…

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)

…ing on the AO, if the AO can show that rateable value under the municipal law does not represent the correct fair rent. In coming to the above conclusion, the Bench has followed the decision of the Patna High Court in the case of Kashi Prasad Katarvka Vs. CIT 101 ITR 810 (Patna). We find that the Bombay High Court which is the jurisdictional High Court has held that the rateable value under the municipal law has to be adopted as annual value u/s.23(1)(a) of the Act and therefore the decision in the case f Makrupa Chemicals (supra) to the contrary cannot be ITA No. 4158 Mum 2016 - M/s Marine Container Services f…

INDOKEM LTD,MUMBAI vs. CIT CIR 6, MUMBAI

In the result, the appeals of assessee are allowed

ITA 3287/MUM/2014[2006-07]Status: DisposedITAT Mumbai25 Jul 2018AY 2006-07

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Nitesh Joshi, ARFor Respondent: Shri Jacinta Zimik Vashai
Section 147Section 22Section 23Section 23(1)Section 263

…Aayakr ApIlaIya AiQakrNa “I” nyaayapIz maMuba[- mao. IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष । BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 3282/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2001-02) Aayakr ApIla saM./ ITA No. 3283/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2002-03) Aayakr ApIla saM./ ITA No. 3284/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2003-04) Aayakr ApIla saM./ ITA No. 3285/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2004-05) Aayakr ApIla saM./ ITA No. 3286/Mum/2…

INDOKEM LTD,MUMBAI vs. CIT CR 6, MUMBAI

In the result, the appeals of assessee are allowed

ITA 3286/MUM/2014[2005-06]Status: DisposedITAT Mumbai25 Jul 2018AY 2005-06

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Nitesh Joshi, ARFor Respondent: Shri Jacinta Zimik Vashai
Section 147Section 22Section 23Section 23(1)Section 263

…Aayakr ApIlaIya AiQakrNa “I” nyaayapIz maMuba[- mao. IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष । BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 3282/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2001-02) Aayakr ApIla saM./ ITA No. 3283/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2002-03) Aayakr ApIla saM./ ITA No. 3284/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2003-04) Aayakr ApIla saM./ ITA No. 3285/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2004-05) Aayakr ApIla saM./ ITA No. 3286/Mum/2…

INDOKEM LTD,MUMBAI vs. CIT CR 6, MUMBAI

In the result, the appeals of assessee are allowed

ITA 3285/MUM/2014[2004-05]Status: DisposedITAT Mumbai25 Jul 2018AY 2004-05

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Nitesh Joshi, ARFor Respondent: Shri Jacinta Zimik Vashai
Section 147Section 22Section 23Section 23(1)Section 263

…Aayakr ApIlaIya AiQakrNa “I” nyaayapIz maMuba[- mao. IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष । BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 3282/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2001-02) Aayakr ApIla saM./ ITA No. 3283/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2002-03) Aayakr ApIla saM./ ITA No. 3284/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2003-04) Aayakr ApIla saM./ ITA No. 3285/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2004-05) Aayakr ApIla saM./ ITA No. 3286/Mum/2…

INDOKEM LTD,MUMBAI vs. CIT CR 6, MUMBAI

In the result, the appeals of assessee are allowed

ITA 3284/MUM/2014[2003-04]Status: DisposedITAT Mumbai25 Jul 2018AY 2003-04

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Nitesh Joshi, ARFor Respondent: Shri Jacinta Zimik Vashai
Section 147Section 22Section 23Section 23(1)Section 263

…Aayakr ApIlaIya AiQakrNa “I” nyaayapIz maMuba[- mao. IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष । BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 3282/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2001-02) Aayakr ApIla saM./ ITA No. 3283/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2002-03) Aayakr ApIla saM./ ITA No. 3284/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2003-04) Aayakr ApIla saM./ ITA No. 3285/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2004-05) Aayakr ApIla saM./ ITA No. 3286/Mum/2…

INDOKEM LTD,MUMBAI vs. CIT CR 6, MUMBAI

In the result, the appeals of assessee are allowed

ITA 3283/MUM/2014[2002-03]Status: DisposedITAT Mumbai25 Jul 2018AY 2002-03

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Nitesh Joshi, ARFor Respondent: Shri Jacinta Zimik Vashai
Section 147Section 22Section 23Section 23(1)Section 263

…Aayakr ApIlaIya AiQakrNa “I” nyaayapIz maMuba[- mao. IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष । BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 3282/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2001-02) Aayakr ApIla saM./ ITA No. 3283/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2002-03) Aayakr ApIla saM./ ITA No. 3284/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2003-04) Aayakr ApIla saM./ ITA No. 3285/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2004-05) Aayakr ApIla saM./ ITA No. 3286/Mum/2…

INDOKEM LTD,MUMBAI vs. CIT CIR 6, MUMBAI

In the result, the appeals of assessee are allowed

ITA 3282/MUM/2014[2001-02]Status: DisposedITAT Mumbai25 Jul 2018AY 2001-02

Bench: Sri Mahavir Singh, Jm & Sri Rajesh Kumar, Am

For Appellant: Shri Nitesh Joshi, ARFor Respondent: Shri Jacinta Zimik Vashai
Section 147Section 22Section 23Section 23(1)Section 263

…Aayakr ApIlaIya AiQakrNa “I” nyaayapIz maMuba[- mao. IN THE INCOME TAX APPELLATE TRIBUNAL “I” BENCH, MUMBAI श्री महावीर स िंह, न्याययक दस्य एविं श्री राजेश कुमार लेखा दस्य के मक्ष । BEFORE SRI MAHAVIR SINGH, JM AND SRI RAJESH KUMAR, AM Aayakr ApIla saM./ ITA No. 3282/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2001-02) Aayakr ApIla saM./ ITA No. 3283/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2002-03) Aayakr ApIla saM./ ITA No. 3284/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2003-04) Aayakr ApIla saM./ ITA No. 3285/Mum/2014 (inaQa-arNa baYa- / Assessment Year 2004-05) Aayakr ApIla saM./ ITA No. 3286/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)

…ue under municipal laws does not represent the correct fair rent, then he may determine the same on the basis of material/ evidence placed on record. This view is fortified by the decision of Patna High Court in the case of Kashi Prasad Kataruka v. CIT [1975] 101 ITR 810. The above discussion leads to the following conclusions: (i) ALV would be the sum at which the property may be reasonably let out by a willing lessor to a willing lessee uninfluenced by any extraneous circumstances. (ii) An inflated or deflated rent based on extraneous consideration may take it out of the bounds of reasonableness. (iii) Actual r…

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)

…ue under municipal laws does not represent the correct fair rent, then he may determine the same on the basis of material/ evidence placed on record. This view is fortified by the decision of Patna High Court in the case of Kashi Prasad Kataruka v. CIT [1975] 101 ITR 810. The above discussion leads to the following conclusions: (i) ALV would be the sum at which the property may be reasonably let out by a willing lessor to a willing lessee uninfluenced by any extraneous circumstances. (ii) An inflated or deflated rent based on extraneous consideration may take it out of the bounds of reasonableness. (iii) Actual r…

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)

…ue under municipal laws does not represent the correct fair rent, then he may determine the same on the basis of material/ evidence placed on record. This view is fortified by the decision of Patna High Court in the case of Kashi Prasad Kataruka v. CIT [1975] 101 ITR 810. The above discussion leads to the following conclusions: (i) ALV would be the sum at which the property may be reasonably let out by a willing lessor to a willing lessee uninfluenced by any extraneous circumstances. (ii) An inflated or deflated rent based on extraneous consideration may take it out of the bounds of reasonableness. (iii) Actual r…

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)

…ue under municipal laws does not represent the correct fair rent, then he may determine the same on the basis of material/ evidence placed on record. This view is fortified by the decision of Patna High Court in the case of Kashi Prasad Kataruka v. CIT [1975] 101 ITR 810. The above discussion leads to the following conclusions: (i) ALV would be the sum at which the property may be reasonably let out by a willing lessor to a willing lessee uninfluenced by any extraneous circumstances. (ii) An inflated or deflated rent based on extraneous consideration may take it out of the bounds of reasonableness. (iii) Actual r…

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Kashi Prasad Kataruka v. CIT (101 ITR 810) — Cited in 33 Judgments | BharatTax