Law:

Section:

I. Section 22, read with section 23, of the Income-tax Act, 1961 - Income from house property - Chargeable as - Assessment years 1970-71 and 1971-72 - Whether in determining real annual value under section 22, read with section 23, rent receivable should be taken into consideration and not amount actually supposed to have been received by assessee - Held, yes II. Section 22 of the Income-tax Act, 1961 - Income from house property - Chargeable as - Assessment years 1970-71 and 1971-72 - Tribunal found that assessee was real owner of property in question and alleged leases in favour of 'P' were facade and not genuine and, therefore, income was to be assessed in hands of assessee - Whether, following the of the same High Court in Smt. Protima Roy v. CIT [1982] 138 ITR 536, it was to be held that the Tribunal was correct in its decision. -Held, yes Note : The case was decided against the assessee. CASE REVIEW Protima Roy v. CIT[1982] 138 ITR 536 (Cal.)followed and relied upon. CASES REFERRED TO Protima Roy v. CIT[1982] 138 ITR 536 (Cal.) A.N. Roy Chowdhury for the Applicant. A.N. Bhattacharjee for the Respondent. JUDGMENT Ajit Kumar Sengupta, J.-At the instance of the assessee, the following questions of law have been referred to this court under section 256(1) of the Income-tax Act, 1961, for the assessment years 1970-71 and 1971-72. "1. Whether, on the facts and in the circumstances of the case, the finding of the Tribunal that the leases dated March 11, 1968 in favour of Peekay Management were facade and not genuine is vitiated by reason of its failure to consider the relevant and material fact on record and is based upon…

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