Law:

Section:

Section 23 of the Income-tax Act, 1961 - Income from house property - Annual Value - Assessment year 1960-61 - Whether municipal valuation could be treated as annual letting value of property - Held, yes In view of the Supreme Court's decision in case of Sheila Kaushish [1981] 131 ITR 435, municipal valuation could be treated as an annual letting value of property. Note: The case was decided in favour of the assessee. K.K. Wadhera for the Applicant. Gagan Naphray and D.N. Banerjee for the Respondent. JUDGMENT S. Ranganathan, J.-The assessee-respondent in this case, Shri R. Dalmia, has subsequently died. However, a vakalatnama has been presented to this court on behalf of the executors and the legal representatives of the late Shri R. Dalmia. We direct in the circumstances that the name of Shri R. Dalmia be substituted by the names of the various persons mentioned in the annexure to the vakalatnama on behalf of the respondent. The cause title may be amended as Smt. Saraswati Dalmia and others in place of Shri R. Dalmia. The question referred to this court in this income-tax reference which relates to the assessment year 1960-61 is in the following terms : "Whether, on the facts and in the circumstances of the case, the Tribunal erred in law in…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492