Law:

Section:

Section 23, read with section 256 of the Income-tax Act, 1961 - Income from house property - Annual value - Assessment years 1974-75 to 1976-77 - Whether where annual letting value of a palace was included in income of assessee trust and Tribunal directed ITO to exclude it on ground that under Part B States Taxation (Concessions) Order 1950, said palace was declared as official residence of Ruler of Indore State, a referable question of law did arise out of order of Tribunal - Held, yes FACTS While completing the assessments for the relevant assessment years the ITO included the annual letting value (ALV) of a palace as income of the assessee trust. On appeal, the AAC directed the ITO to exclude the ALV of the said palace from the total income of the assessee on the ground that under Part B States Taxation (Concessions) Order, 1950, the said palace was declared as the official residence of the Ruler of Indore State and, therefore, it was exempted from tax as per para. 15 of the said Order. The Revenue carried the matter before the Tribunal who confirmed the finding of the AAC. The reference application made by the revenue under section 256(1) was also dismissed. On an application under section 256(2). HELD A question of law arose out of order of the Tribunal. JUDGMENT Shukla, J.-This order shall also dispose of Misc. Civil Case No. 46 of 1982 (Commissioner of Income-tax, Bhopal v. Princess Usha Trust, Indore) and Misc. Civil Case No. 47 of 1982 (Commissioner of Income-tax, Bhopal v. Princess Usha Trust, Indore) , as a common question has been raised in all the three applications filed by the Commissioner of Income-tax, Bhopal, against the…

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