Premsudha Exports (P.) Ltd. v. ACIT

110 ITD 158Income Tax Appellate Tribunal2008#2872 most cited

What is Premsudha Exports (P.) Ltd. v. ACIT authority for?

For the purpose of computing income from house property, the annual value under Section 23 must be determined even if the property is vacant or not actually let out, as the statutory phrase "property is let out" does not necessitate actual letting.

41

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Also referred to as

Premsudha Exports (P.) Ltd. v. ACIT · Premsudha Exports · Section 23 · Section 23(1)(a) · Section 23(1)(c) · Annual Letting Value · ALV · notional rent · vacant property · property not actually let out · income from house property · determination of annual value

Sections most often in play

Section 1961Section 23(1)(c)Section 143(3)Section 23Section 139(1)Section 23(1)(a)Section 22Section 131

Issues it is cited on

section 23(1)(c)self occupied propertysection 23(1)section 23(1)(a)section 80lsection 23(2)annual letting valuesection 23(4)section 23(5)annual valuesection 2(31)interest on interest

Judgments citing Premsudha Exports (P.) Ltd. v. ACIT

MOHIT VIJAYKUMAR GUPTA,MUMBAI vs. THE DCIT, CIRCLE-2(1)(1), AHMEDABAD

In the result, the appeal of the assessee is partly allowed, Ground No

ITA 1091/AHD/2025[2021-22]Status: DisposedITAT Ahmedabad06 Nov 2025AY 2021-22

Bench: Dr. Brr Kumar & Shri Siddhartha Nautiyalआयकर अपील सं /Ita No.1091/Ahd/2025 िनधा"रण वष" /Assessment Year : 2021-22 Mohit Vijaykumar Gupta The Dcit बनाम/ B-1001, Juhu Trishul, Circle-2(1)(1) V/S. Gulmohar Cross Road No.6 Ahmedabad – 380 015 Jvpd Vile Parle West Mumbai – 400 049 "थायी लेखा सं./Pan: Adfpg 7162 D (अपीलाथ"/ Appellant) ("" यथ"/ Respondent) Assessee By : Shri J. C. Desai, Ca Revenue By : Shri B.P. Srivastava, Sr.Dr सुनवाई की तारीख/Date Of Hearing : 06/08/2025 घोषणा की तारीख /Date Of Pronouncement: 06/11/2025 आदेश/O R D E R Per Siddhartha Nautiyal, Jm: The Present Appeal Has Been Preferred By The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals), National Faceless Appeal Centre (Nfac), Delhi [Hereinafter Referred To As ‘Cit(A)’] Dated 14/12/2025 Passed U/S.250 Of The Income Tax Act, 1961 (Hereinafter Referred To As ‘The Act’) For The Assessment Year (Ay) 2021-2022. 2. The Assessee Has Raised The Following Grounds Of Appeal: Mohit Vijaykumar Gupta Vs. Dcit Asst. Year : 2021-22

For Appellant: Shri J. C. Desai, CAFor Respondent: Shri B.P. Srivastava, Sr.DR
Section 22Section 23(1)(c)Section 24Section 250

…d indeed made efforts to rent out the said flats through brokers but could not produce confirmations as the same were not preserved upon the subsequent sale of the flats. He relied upon judicial precedents including Premsudha Exports (P.) Ltd. v. ACIT [(2008) 110 ITD 158 (Mum.) / 17 SOT 293] and Shri Sachin R. Tendulkar v. DCIT [ITA No. 3755/Mum/2016, order dated 09.02.2018] to argue that the benefit of section 23(1)(c) applies even if the property, held with an intention to let out, remains vacant for the whole or part of the year. The CIT(A), however, noted that no corroborative material was filed either before…

NAVBHARAT POTTERIES PRIVATE LIMITED,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX - CIRCLE 7(1)(1), MUMBAI

In the result, appeal filed by the assessee is partly allowed in above\nterms

ITA 2700/MUM/2024[2016-17]Status: DisposedITAT Mumbai05 Mar 2025AY 2016-17
Section 142(1)Section 143(3)Section 147Section 22Section 23(1)(c)Section 250

…in the case of viz. (i). Vikas Keshav Garud Vs. ITO, Ward 1(2), Nashik (2016) 160\nITD 7 (Pune) (ii). ACIT, Circle-47(1), New Delhi Vs. Dr. Prabha Sanghi (2012) 139 ITD\n504 (Del); (iii). Premsudha Exports (P) Ltd. Vs. ACIT, Central Circle 10, Mumbai (2008)\n110 ITD 158 (Mum); and (iv). Informed Technologies India Ltd. Vs. DCIT3(2), Mumbai\n(2017) 162 ITD 153 (Mum). We find that in the case of Informed technologies India Ltd.\n(supra) the Tribunal after deliberating at length on the issue as regards the scope and\ngamut of Sec. 23(1)(c) of the Act, had observed as under :-\n“7.1 We have considered the rival subm…

AMBIKA TRADING CORPORATION,MUMBAI vs. DCIT 24(1), MUMBAI

In the result the appeals filed by the assessee for both assessment years stands partly allowed

ITA 6058/MUM/2024[2015-16]Status: DisposedITAT Mumbai28 Feb 2025AY 2015-16

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

Section 139(1)Section 147Section 148

…14 taxmann.com 146 (ii) Decision of coordinate Bench of this Tribunal in case of Sonu Realtors (P.) Ltd V.DCIT reported in 97 taxmann.com 534 (iii) Decision of coordinate Bench of this Tribunal in case of Premsudha Exports (P.) Ltd V. ACIT reported in [2008] 110 ITD 158 ) iv. Decision of Hon’ble Chennai Tribunal in case of Asfa Technologies & BPO (P) Ltd. V. ITO reported in 143 taxmann.com 170 4.2. Alternatively, the Ld.AR proposed that the notional rent under section 23(1)(a) of the Act shall not exceed Rs.1,91,183/-, i.e. the municipal tax of the said premises which is the ALV of the said premises under sectio…

AMBIKA TRADING CORPORATION,MUMBAI vs. DCIT 24(1), MUMBAI

In the result the appeals filed by the assessee for both assessment years stands partly allowed

ITA 6057/MUM/2024[2014-15]Status: DisposedITAT Mumbai28 Feb 2025AY 2014-15

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

Section 139(1)Section 147Section 148

…14 taxmann.com 146 (ii) Decision of coordinate Bench of this Tribunal in case of Sonu Realtors (P.) Ltd V.DCIT reported in 97 taxmann.com 534 (iii) Decision of coordinate Bench of this Tribunal in case of Premsudha Exports (P.) Ltd V. ACIT reported in [2008] 110 ITD 158 ) iv. Decision of Hon’ble Chennai Tribunal in case of Asfa Technologies & BPO (P) Ltd. V. ITO reported in 143 taxmann.com 170 4.2. Alternatively, the Ld.AR proposed that the notional rent under section 23(1)(a) of the Act shall not exceed Rs.1,91,183/-, i.e. the municipal tax of the said premises which is the ALV of the said premises under sectio…

ASSISTANT COMMISSIONER OF INCOME TAX, CHENNAI vs. A S CARGO MOVERS PRIVATE LIMITED, CHENNAI

In the result, the appeal of the Revenue and assessee are decided as under:-

ITA 1796/CHNY/2024[2017-18]Status: DisposedITAT Chennai24 Jan 2025AY 2017-18

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1688 /Chny/2024, Assessment Years: 2015-16 आयकर अपील सं./Ita No.1796 /Chny/2024, Assessment Years: 2017-18 Assistant Commissioner Of Income A.S.Cargo Movers Private Limited, Tax, New No.173, Old No.103, 9Th Floor B Corporate Circle-1(1), Block, Navins Presidium, Chennai. Nelson Manickam Road, Aminjikarai, Chennai-600 029. [Pan: Aaaca7739D] आयकर अपील सं./Co No.56 /Chny/2024 (Ita No.1688/Chny/2024) निर्ाारण वर्ा /Assessment Year: 2015-16 A.S.Cargo Movers Private Limited, Assistant Commissioner Of Income New No.173, Old No.103, 9Th Floor B Tax, Block, Navins Presidium, Corporate Circle-1(1), Nelson Manickam Road, Chennai. Aminjikarai, Chennai-600 029. [Pan: Aaaca7739D] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Shri N.Quadir Hoseyn, Advocate & Dr.L.Natarajan, Ca. प्रत्यर्थी की ओर से /Revenue By : Shri K.N.Dhandapani, Cit सुिवाई की तारीख/Date Of Hearing : 04.12.2024 घोर्णा की तारीख /Date Of Pronouncement : 24.01.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

For Appellant: Shri N.Quadir Hoseyn, Advocate &For Respondent: Shri K.N.Dhandapani, CIT
Section 250

…er the scheme of the act, deduction u/s 23 / 24 of the act would available even if the property was vacant. For the purpose he placed reliance upon the decision in the case of Smt.Poonam Sawhney (2008) 20 SOT 69 Delhi and Premsudha Exports Pvt Ltd 17 SOT 293 (110 ITD 158) of Hon’ble ITAT Mumbai. It is trite law that the words “property is let out” in the statute does not corresponds to actual letting out of the property. We therefore do not find any infirmity in the order of the Ld. First Appellate Authority. Accordingly, the order of the Ld. First Appellate Authority is confirmed and the grounds of appeal raised…

ASSISTANT COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 1(1), CHENNAI, CHENNAI vs. A S CARGO MOVERS PRIVATE LIMITED, CHENNAI

In the result, the appeal of the Revenue and assessee are decided as under:-

ITA 1688/CHNY/2024[2015-16]Status: DisposedITAT Chennai24 Jan 2025AY 2015-16

Bench: Shri Aby T Varkey & Shri Amitabh Shuklaआयकर अपील सं./Ita No.1688 /Chny/2024, Assessment Years: 2015-16 आयकर अपील सं./Ita No.1796 /Chny/2024, Assessment Years: 2017-18 Assistant Commissioner Of Income A.S.Cargo Movers Private Limited, Tax, New No.173, Old No.103, 9Th Floor B Corporate Circle-1(1), Block, Navins Presidium, Chennai. Nelson Manickam Road, Aminjikarai, Chennai-600 029. [Pan: Aaaca7739D] आयकर अपील सं./Co No.56 /Chny/2024 (Ita No.1688/Chny/2024) निर्ाारण वर्ा /Assessment Year: 2015-16 A.S.Cargo Movers Private Limited, Assistant Commissioner Of Income New No.173, Old No.103, 9Th Floor B Tax, Block, Navins Presidium, Corporate Circle-1(1), Nelson Manickam Road, Chennai. Aminjikarai, Chennai-600 029. [Pan: Aaaca7739D] (अपीलार्थी/Appellant) (प्रत्यर्थी/Respondent) अपीलार्थी की ओर से/ Assessee By : Shri N.Quadir Hoseyn, Advocate & Dr.L.Natarajan, Ca. प्रत्यर्थी की ओर से /Revenue By : Shri K.N.Dhandapani, Cit सुिवाई की तारीख/Date Of Hearing : 04.12.2024 घोर्णा की तारीख /Date Of Pronouncement : 24.01.2025 आदेश / O R D E R Per Amitabh Shukla, A.M :

For Appellant: Shri N.Quadir Hoseyn, Advocate &For Respondent: Shri K.N.Dhandapani, CIT
Section 250

…er the scheme of the act, deduction u/s 23 / 24 of the act would available even if the property was vacant. For the purpose he placed reliance upon the decision in the case of Smt.Poonam Sawhney (2008) 20 SOT 69 Delhi and Premsudha Exports Pvt Ltd 17 SOT 293 (110 ITD 158) of Hon’ble ITAT Mumbai. It is trite law that the words “property is let out” in the statute does not corresponds to actual letting out of the property. We therefore do not find any infirmity in the order of the Ld. First Appellate Authority. Accordingly, the order of the Ld. First Appellate Authority is confirmed and the grounds of appeal raised…

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

ITA 2776/DEL/2022[2019-20]Status: DisposedITAT Delhi20 Nov 2024AY 2019-20

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

For Appellant: Shri Akkal Dudhwewala, CAFor Respondent: Ms. Sapna Bhatia, CIT DR
Section 132Section 139Section 143(2)Section 153ASection 22Section 23(2)

…‘NIL’. - Sonu Realtors Pvt Ltd Vs DCIT (173 ITD 82) ACIT Vs Dr. Prabha Sanghi (139 ITD 504) (ITAT Delhi) - ITO Vs Metaoxide Pvt Ltd (170 ITD 235) (ITAT Mumbai) - S.R. Tendulkar Vs Dy.CIT (172 ITD 266) (ITAT Mumbai) - Premsudha Exports (P.) Ltd. Vs ACIT (110 ITD 158) (Mumbai) - In view of the above the appellant submits that even in the alternate the 3.7 annual value of the property has to be assessed at ‘NIL’ in terms of Section 23(l)(c) of the Act. 4. Ground No. 3 of AYs 2014-15 to 2016-17 and Ground No. 2 of AY 2013-14 6b AYs 2017-18 to 2019-20 (Addition u/s 23 in relation to properties at Goa) The appel…

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

ITA 2775/DEL/2022[2018-19]Status: DisposedITAT Delhi20 Nov 2024AY 2018-19

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

For Appellant: Shri Akkal Dudhwewala, CAFor Respondent: Ms. Sapna Bhatia, CIT DR
Section 132Section 139Section 143(2)Section 153ASection 22Section 23(2)

…‘NIL’. - Sonu Realtors Pvt Ltd Vs DCIT (173 ITD 82) ACIT Vs Dr. Prabha Sanghi (139 ITD 504) (ITAT Delhi) - ITO Vs Metaoxide Pvt Ltd (170 ITD 235) (ITAT Mumbai) - S.R. Tendulkar Vs Dy.CIT (172 ITD 266) (ITAT Mumbai) - Premsudha Exports (P.) Ltd. Vs ACIT (110 ITD 158) (Mumbai) - In view of the above the appellant submits that even in the alternate the 3.7 annual value of the property has to be assessed at ‘NIL’ in terms of Section 23(l)(c) of the Act. 4. Ground No. 3 of AYs 2014-15 to 2016-17 and Ground No. 2 of AY 2013-14 6b AYs 2017-18 to 2019-20 (Addition u/s 23 in relation to properties at Goa) The appel…

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, NEW DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

ITA 2774/DEL/2022[2017-18]Status: DisposedITAT Delhi20 Nov 2024AY 2017-18

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

For Appellant: Shri Akkal Dudhwewala, CAFor Respondent: Ms. Sapna Bhatia, CIT DR
Section 132Section 139Section 143(2)Section 153ASection 22Section 23(2)

…‘NIL’. - Sonu Realtors Pvt Ltd Vs DCIT (173 ITD 82) ACIT Vs Dr. Prabha Sanghi (139 ITD 504) (ITAT Delhi) - ITO Vs Metaoxide Pvt Ltd (170 ITD 235) (ITAT Mumbai) - S.R. Tendulkar Vs Dy.CIT (172 ITD 266) (ITAT Mumbai) - Premsudha Exports (P.) Ltd. Vs ACIT (110 ITD 158) (Mumbai) - In view of the above the appellant submits that even in the alternate the 3.7 annual value of the property has to be assessed at ‘NIL’ in terms of Section 23(l)(c) of the Act. 4. Ground No. 3 of AYs 2014-15 to 2016-17 and Ground No. 2 of AY 2013-14 6b AYs 2017-18 to 2019-20 (Addition u/s 23 in relation to properties at Goa) The appel…

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

ITA 2773/DEL/2022[2016-17]Status: DisposedITAT Delhi20 Nov 2024AY 2016-17

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

For Appellant: Shri Akkal Dudhwewala, CAFor Respondent: Ms. Sapna Bhatia, CIT DR
Section 132Section 139Section 143(2)Section 153ASection 22Section 23(2)

…‘NIL’. - Sonu Realtors Pvt Ltd Vs DCIT (173 ITD 82) ACIT Vs Dr. Prabha Sanghi (139 ITD 504) (ITAT Delhi) - ITO Vs Metaoxide Pvt Ltd (170 ITD 235) (ITAT Mumbai) - S.R. Tendulkar Vs Dy.CIT (172 ITD 266) (ITAT Mumbai) - Premsudha Exports (P.) Ltd. Vs ACIT (110 ITD 158) (Mumbai) - In view of the above the appellant submits that even in the alternate the 3.7 annual value of the property has to be assessed at ‘NIL’ in terms of Section 23(l)(c) of the Act. 4. Ground No. 3 of AYs 2014-15 to 2016-17 and Ground No. 2 of AY 2013-14 6b AYs 2017-18 to 2019-20 (Addition u/s 23 in relation to properties at Goa) The appel…

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, NEW DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

ITA 2772/DEL/2022[2015-16]Status: DisposedITAT Delhi20 Nov 2024AY 2015-16

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

For Appellant: Shri Akkal Dudhwewala, CAFor Respondent: Ms. Sapna Bhatia, CIT DR
Section 132Section 139Section 143(2)Section 153ASection 22Section 23(2)

…‘NIL’. - Sonu Realtors Pvt Ltd Vs DCIT (173 ITD 82) ACIT Vs Dr. Prabha Sanghi (139 ITD 504) (ITAT Delhi) - ITO Vs Metaoxide Pvt Ltd (170 ITD 235) (ITAT Mumbai) - S.R. Tendulkar Vs Dy.CIT (172 ITD 266) (ITAT Mumbai) - Premsudha Exports (P.) Ltd. Vs ACIT (110 ITD 158) (Mumbai) - In view of the above the appellant submits that even in the alternate the 3.7 annual value of the property has to be assessed at ‘NIL’ in terms of Section 23(l)(c) of the Act. 4. Ground No. 3 of AYs 2014-15 to 2016-17 and Ground No. 2 of AY 2013-14 6b AYs 2017-18 to 2019-20 (Addition u/s 23 in relation to properties at Goa) The appel…

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTER CIRCLE-4, DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

ITA 2771/DEL/2022[2014-15]Status: DisposedITAT Delhi20 Nov 2024AY 2014-15

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

For Appellant: Shri Akkal Dudhwewala, CAFor Respondent: Ms. Sapna Bhatia, CIT DR
Section 132Section 139Section 143(2)Section 153ASection 22Section 23(2)

…‘NIL’. - Sonu Realtors Pvt Ltd Vs DCIT (173 ITD 82) ACIT Vs Dr. Prabha Sanghi (139 ITD 504) (ITAT Delhi) - ITO Vs Metaoxide Pvt Ltd (170 ITD 235) (ITAT Mumbai) - S.R. Tendulkar Vs Dy.CIT (172 ITD 266) (ITAT Mumbai) - Premsudha Exports (P.) Ltd. Vs ACIT (110 ITD 158) (Mumbai) - In view of the above the appellant submits that even in the alternate the 3.7 annual value of the property has to be assessed at ‘NIL’ in terms of Section 23(l)(c) of the Act. 4. Ground No. 3 of AYs 2014-15 to 2016-17 and Ground No. 2 of AY 2013-14 6b AYs 2017-18 to 2019-20 (Addition u/s 23 in relation to properties at Goa) The appel…

THE KUMAR FAMILY TRUST,DELHI vs. ACIT, CENTRAL CIRCLE-4, NEW DELHI

In the result, appeal for AYs 2013-14 & 2014-15 are unabated and assessments are set aside due to no incriminating material found during the search and the appeals for the said assessment years are...

ITA 2770/DEL/2022[2013-14]Status: DisposedITAT Delhi20 Nov 2024AY 2013-14

Bench: Shri S. Rifaur Rahman & Shri Sudhir Kumar, Judicialmember

For Appellant: Shri Akkal Dudhwewala, CAFor Respondent: Ms. Sapna Bhatia, CIT DR
Section 132Section 139Section 143(2)Section 153ASection 22Section 23(2)

…‘NIL’. - Sonu Realtors Pvt Ltd Vs DCIT (173 ITD 82) ACIT Vs Dr. Prabha Sanghi (139 ITD 504) (ITAT Delhi) - ITO Vs Metaoxide Pvt Ltd (170 ITD 235) (ITAT Mumbai) - S.R. Tendulkar Vs Dy.CIT (172 ITD 266) (ITAT Mumbai) - Premsudha Exports (P.) Ltd. Vs ACIT (110 ITD 158) (Mumbai) - In view of the above the appellant submits that even in the alternate the 3.7 annual value of the property has to be assessed at ‘NIL’ in terms of Section 23(l)(c) of the Act. 4. Ground No. 3 of AYs 2014-15 to 2016-17 and Ground No. 2 of AY 2013-14 6b AYs 2017-18 to 2019-20 (Addition u/s 23 in relation to properties at Goa) The appel…

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

…here a residential property remained vacant throughout the year, annual letting value of such property shall be NIL in accordance with the provisions of section 23 (1)( c) of the Act • CIT v. Joy Jacob: 151 ITR 19 (Ker.) • Premsudha Exports (P.) Ltd. v. ACIT: 110 ITD 158 (Mum. Trib.) • Shakuntala Devi v. DDIT: 31 CCH 32 (Bang.) • Kamal Mishra v. ITO: 19 SOT 251 (Del.)(Further appeal dismissed by the High Court) • Ms. Priyananki Singh Sood v. ACIT: [2019] 174 ITD 371 (Delhi - Trib.) • ITO v. Metaoxide (P.) Ltd. - [2018] 170 ITD 235 (Mumbai - Trib.) • Raj Landmark (P.) Ltd. v. ITO - [2018] 172 ITD 339 (Jaipur ITAT)…

AMANDA JOY PURAVANKARA ,BENGALURU vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1(4), BENGALURU

In the result, appeal of the assessee is allowed

ITA 109/BANG/2024[2015-16]Status: DisposedITAT Bangalore10 Apr 2024AY 2015-16

Bench: Shri George George K. & Shri Chandra Poojariassessment Year: 2015-16

For Appellant: Shri Narendra Sharma, A.RFor Respondent: Shri Ganesh R. Ghale, Standing Counsel for Revenue
Section 143(3)Section 23(1)(c)Section 234CSection 250

…id case, one of us (AM) is the signatory. In the case of Smt. Indu Chandra (supra), addition which was made in similar circumstances, was deleted by following the decision of the ITAT, Mumbai Bench ‘C’ in the case of Premsudha Exports (P) Ltd. Vs. ACIT (2008) 110 ITD 158 (Mum) and the relevant findings have been given in para 11 and 11.1 of the order dated 29.4.2011 which are reproduced as under : Amanda Joy Puravankara, Bengaluru Page 4 of 7 “11. After" considering the submissions of both the parties and the material on record, it is noticed that the property in question remained vacant and claim of the assesse…

M/S PERINGATTU HEALTH FOUNDATION PRIVATE,ERNAKULAM vs. ITO CORPORATE WARD 2(3), KOCHI

In the result, the assessee’s appeal is partly allowed

ITA 23/COCH/2023[2014-15]Status: DisposedITAT Cochin28 Nov 2023AY 2014-15

Bench: Shri Sanjay Arora, Am &Shri Manomohan Das, Jm

For Appellant: Smt. Parvathi Ammal, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. DR
Section 12Section 143(3)Section 22Section 24(1)(b)

…the earlier years is the non-applicability of the said decision, stated to be inapplicable to commercial properties, as against the decision by the Tribunal in Premsudha Exports Pvt. Ltd. v. 3 Peringattu Health Foundation Private Ltd. v. ITO Asst. CIT [2008] 110 ITD 158 (Mum), relied upon by the assessee, and accepted as applicable for commercial properties. 6. We have heard the parties, and perused the material on record. 6.1 The controversy before us is the true interpretation of sec. 23(1)(c). We find no basis whatsoever for the said distinguishing by the ld.CIT(A),i.e., as at para 5, either in the language o…

MORA] FINANZ CORPORATION,NAVI MUMBAI vs. DCIT CENTRAL CIRLE - 5(2), MUMBAI

In the result, appeal filed by the assessee is partly allowed as per above direction

ITA 155/MUM/2022[2012-13]Status: DisposedITAT Mumbai08 Dec 2022AY 2012-13

Bench: Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 142(1)Section 143(2)Section 148Section 22

…As a consequence your appellant was eligible for deduction of vacancy allowance under the proviso of section 23(1) of the Act for the full adjusted ALV. This position in law has been confirmed by the decisions in the following cases: (a) Premsutha Export Ltd. 110 ITD 158 (Mum.) (b) SachinR.Tendulkar, 172 ITD 266 (Mum.) (c) Saif Ali Khan, 172 ITD 345 (Mum.) (d) Vikas Keshav Garud, 160 ITD 7 (Pune) (e) Mehta Oxide (P) Ltd., 170 ITD 235 (Mum.) (f) Dr.Prabha Sandhi, 139 ITD 404 (Del.) (g) Kamal Mishra, 19 SOT 251 (Del.) 12. Stock in trade of business not liable to notional Income taxation. a. It is reiterated that th…

MORAJ FINANZ CORPORATION,NAVI MUMBAI vs. DCLT CENTRAL CIRLE - 5(2), MUMBAI

In the result, appeal filed by the assessee is partly allowed as per above direction

ITA 154/MUM/2022[2011-12]Status: DisposedITAT Mumbai08 Dec 2022AY 2011-12

Bench: Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 142(1)Section 143(2)Section 148Section 22

…As a consequence your appellant was eligible for deduction of vacancy allowance under the proviso of section 23(1) of the Act for the full adjusted ALV. This position in law has been confirmed by the decisions in the following cases: (a) Premsutha Export Ltd. 110 ITD 158 (Mum.) (b) SachinR.Tendulkar, 172 ITD 266 (Mum.) (c) Saif Ali Khan, 172 ITD 345 (Mum.) (d) Vikas Keshav Garud, 160 ITD 7 (Pune) (e) Mehta Oxide (P) Ltd., 170 ITD 235 (Mum.) (f) Dr.Prabha Sandhi, 139 ITD 404 (Del.) (g) Kamal Mishra, 19 SOT 251 (Del.) 12. Stock in trade of business not liable to notional Income taxation. a. It is reiterated that th…

MORAJ FINANZ CORPORATION,NAVI MUMBAI vs. DCIT, CENTRAL CIRCLE - 5(2), MUMBAI

In the result, appeal filed by the assessee is partly allowed as per above direction

ITA 153/MUM/2022[2010-11]Status: HeardITAT Mumbai08 Dec 2022AY 2010-11

Bench: Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 142(1)Section 143(2)Section 148Section 22

…As a consequence your appellant was eligible for deduction of vacancy allowance under the proviso of section 23(1) of the Act for the full adjusted ALV. This position in law has been confirmed by the decisions in the following cases: (a) Premsutha Export Ltd. 110 ITD 158 (Mum.) (b) SachinR.Tendulkar, 172 ITD 266 (Mum.) (c) Saif Ali Khan, 172 ITD 345 (Mum.) (d) Vikas Keshav Garud, 160 ITD 7 (Pune) (e) Mehta Oxide (P) Ltd., 170 ITD 235 (Mum.) (f) Dr.Prabha Sandhi, 139 ITD 404 (Del.) (g) Kamal Mishra, 19 SOT 251 (Del.) 12. Stock in trade of business not liable to notional Income taxation. a. It is reiterated that th…

YASH VARDHAN ARYA,BANGALORE vs. THE INCOME TAX OFFICER, (INTERNATIONAL TAXATION) WARD-1(1), BANGALORE

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

ITA 203/BANG/2022[2016-17]Status: DisposedITAT Bangalore17 Jun 2022AY 2016-17

Bench: Shri George George K

For Appellant: Smt.Suman Lunkar, CAFor Respondent: Sri.Ganesh R.Ghale, Standing Counsel
Section 23Section 23(1)(a)Section 271(1)(c)

…id case, one of us (AM) is the signatory. In the case of Smt. Indu Chandra (supra), addition which was made in similar circumstances, was deleted by following the decision of the ITAT, Mumbai Bench ‘C’ in the case of Premsudha Exports (P) Ltd. Vs. ACIT (2008) 110 ITD 158 (Mum) and the relevant findings have been given in para 11 and 11.1 of the order dated 29.4.2011 which are reproduced as under : “11. After" considering the submissions of both the parties and the material on record, it is noticed that the property in question remained vacant and claim of the assessee was that she made all the efforts to let out…

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