How many judgments cite M.V. Sonavala v. CIT?

27 judgments on BharatTax cite M.V. Sonavala v. CIT (177 ITR 246), spanning 2015 to 2024.

Which sections of the Income Tax Act does M.V. Sonavala v. CIT come up under?

It is most often cited in judgments turning on Section 143(3), Section 115JB, Section 120(4)(b), Section 124(3), Section 127, Section 142(1).

M.V. Sonavala v. CIT

177 ITR 246High Court1989#4305 most cited

What is M.V. Sonavala v. CIT authority for?

The Assessing Officer can determine the annual value of a property based on what it might reasonably be let for from year to year or its annual ratable value, especially when rent is not charged or is below market rates. This approach is permissible under Section 23(1)(a) of the Income-tax Act.

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2015 to 2024.

Also referred to as

M.V. Sonavala v. CIT · 177 ITR 246 · Section 23(1)(a) · annual value of property · municipal ratable value · market rent · property letting

Sections most often in play

Section 143(3)Section 115JB Section 120(4)(b)Section 124(3)Section 127 Section 142(1)Section 143(1)Section 145A

Issues it is cited on

section 143(3)business

Judgments citing M.V. Sonavala v. CIT

ACIT - 1(1)(1), Mumbai vs. Cyrus Investments Pvt. Ltd. (Formerly Cyrus Investments Ltd.), Mumbai

In the result , appeal of the Revenue is partly allowed as indicated above

ITA 6414/MUM/2016[2012-13]Status: DisposedITAT Mumbai09 May 2018AY 2012-13

Bench: Shri C.N Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6414/Mum/2016 (नििाारण वर्ा / Assessment Year : 2012-13) Assistant Commissioner Of बिाम/ M/S Cyrus Investments Income-Tax-1(1)(1) Private Limited 579, Aayakar Bhawan Esplanade House, Fort V. M K Road, Mumbai-400020 Mumbai-400002 स्थायी ऱेखा सं./ Pan : Aaacc2880P (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

For Appellant: Shri BeharilalFor Respondent: Shri Rajat Mittal (DR)

Section 143(3)Section 14ASection 68

…ted. The learned counsel for the assessee also relied upon the decision(s) of Hon‟ble Calcutta High Court in the case of CIT v. Prabhabati Bansali reported in (1983)141 ITR 419(Cal.), Hon‟ble Bombay High Court decision in the case of M.V Sonavala v. CIT (1989)177 ITR 246(Bom.) , Hon‟ble Delhi High Court decision in the case of CIT v. R. Dalmia(deceased-through LR) (1987)163 ITR 525(Delhi) , decision of Hon‟ble Supreme Court in the case of Dewan Daulat Rai Kapoor v. NDMC (1980) 122 ITR 700(SC) and decision of ITAT, Mumbai in the case of DCIT v. Shripal S. Morakhia (2006) 7 SOT 0609(Mum-trib.) . 13. We have carefu…

Sunil T. Doshi, Mumbai vs. JCIT RG 24(2), Mumbai

In the result, appeal filed by the assessee is allowed

ITA 456/MUM/2016[2010-11]Status: DisposedITAT Mumbai21 Feb 2018AY 2010-11

Bench: Shri Saktijit Dey () & Shri G Manjunatha ()

Section 22Section 23Section 23(1)Section 271Section 271(1)(c)

…e sum so received or receivable. He had computed annual letting value of the property on the basis of municipal valuation which is in accordance with the law and also supported by the decision of jurisdictional High Court in the case of M.V. Sonawala vs CIT 177 ITR 246 wherein it was categorically held that municipal valuation is one of the basis for computation of annual letting value of deemed let out of properties. The CIT(A), after considering relevant submissions of the assessee and also relying upon certain judicial precedents observed that as per the provisions of section 23 annual value of sum for w…

C.S.Watwani-HUF, Mumbai vs. Income Tax Officer-Ward 24(1)(4), Mumbai

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

ITA 5736/MUM/2017[2012-13]Status: DisposedITAT Mumbai18 Jan 2018AY 2012-13

Bench: Shri R.C.Sharma, Am C.S.Watwani-Huf Vs. Income Tax Officer-Ward 503, Neelam, 14Th B Road 24(1)(4), Mumbai Near Idbi Bank, Khar (West) Mumbai Maharashtra – 400 052 Pan/Gir No.Aaahc1144B Appellant) .. Respondent)

Section 1Section 143(3)Section 23(1)Section 23(1)(c)Section 24

…IN THE INCOME TAX APPELLATE TRIBUNAL “SMC”, BENCH MUMBAI BEFORE SHRI R.C.SHARMA, AM C.S.Watwani-HUF Vs. Income Tax Officer-Ward 503, Neelam, 14th B Road 24(1)(4), Mumbai Near IDBI Bank, Khar (West) Mumbai Maharashtra – 400 052 PAN/GIR No.AAAHC1144B Appellant) .. Respondent) Assessee by Shri Dalpat Shah Revenue by Shri Ram Tiwari Date of Hearing 22/11/2017 Date of Pronouncement 18/01/2018 आदेश / O R D E R PER R.C.SHARMA (A.M): This is an appeal filed by the assessee against the order of CIT(A)- 51, Mumbai dated 21/06/2017 for A.Y.2012-13 in the matter of order passed u/s.143(3) of the IT Act. 2. Following gr…

ITO, Ward-36(1), Kolkata vs. Sri Raghu Nandan Modi, Kolkata

In the result, Revenue’s appeal is dismissed

ITA 2186/KOL/2014[2010-2011]Status: DisposedITAT Kolkata02 Jun 2017AY 2010-2011

Bench: Shri N.V.Vasudevan & Shri Waseem Ahmed

Section 133(6)Section 143(3)Section 17(2)Section 2(24)(iv)Section 28

…from year to year". Thus, the Court concluded that the Municipal valuation and the annual value u/s. 23(1)(a} are one of the same. The decision of Hon'ble Calcutta High Court has been followed by Hon'ble Bombay High Court in the case of M.V. Sonavala Vs. CIT, 177 ITR 246 (Born); wherein Hon'ble Bombay High Court has observed as follows :- "However, the questions posed to us are not whether the annual value of the property for the purpose of section 23(1)(a) should be taken at the actual compensation received or on the basis of standard rent. The question is whether the annual value should be taken at the amount…

ACIT 17(2), Mumbai vs. Jagshi J Chheda, Mumbai

In the result, all of the appeals filed by the assessee as well as Revenue are dismissed

ITA 6854/MUM/2011[2008-09]Status: DisposedITAT Mumbai24 Jun 2016AY 2008-09

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2008-09

Section 143(3)

…ssessee has relied upon following judgments: CIT vs Asian Hotels Ltd 323 ITR 490 (Delhi- FB) 1. 2. Trivoli Investments & Trading CO Ltd ITA No 2808/2809/Mum/1996 dated 13.4.2011 3. CIT vs J.K. Investors (Bombay) Ltd 248 ITR 723 (Bom) 4. M. V. Sonavala vs. CIT 177 ITR 246 (Bom.) 5. CIT vs. Prabhabati Bansali 141 ITR 419 (Cal.) 6. Indersons Leathers Pvt Ltd vs AddI CIT 295 ITR 295 (AT- Amritsar) 7. CIT vs. Satya Co. Ltd. 140 CTR 569 (Cal) In the recent Delhi full Bench judgement in the case of CIT vs Asian Hotels Ltd 323 ITR 490 it has been held that there is no scope in law for taxing any notional interest. 5.4 On…

Jagshi J. Chheda, Mumbai vs. A.C.I.T. Circle - 17(2), Mumbai

In the result, all of the appeals filed by the assessee as well as Revenue are dismissed

ITA 6733/MUM/2011[2008-2009]Status: DisposedITAT Mumbai24 Jun 2016AY 2008-2009

Bench: Shri Amit Shukla & Shri Ashwani Tanejaassessment Year: 2008-09

Section 143(3)

Goodvalue Polyplast Ltd, Mumbai vs. ITO 16(3)(1), Mumbai

ITA 1662/MUM/2011[2006-07]Status: DisposedITAT Mumbai21 Oct 2015AY 2006-07

For Appellant: Shri Mitesh ShahFor Respondent: Shri Debashis Chandra-CIT-DR

Section 143(3)Section 234BSection 254(1)Section 271(1)(c)

…d be given to interest free deposit so as to determine the true and correct ALV.He referred to the provision of section 22 and 23(1) of the Act.He relied upon the cases of Bhagwandas Jain(128 ITR 315),Tivoli Investment and Trading Co. Pvt. Ltd.; M.V. Sonawala(177 ITR 246).He further held that for deciding the ALV u/s. 23(1) of the Act three factors had to be looked into,namely the actual rent received, the standard rent and the fair market value,that for the purpose of determining the standard rent of the property the Bombay Rent Control Act envisaged 15% return of the investment as Fair Rental Value.Applying the…