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1 - 8 of 8 (0.30 seconds)The Income Tax Act, 1961
Section 22 in The Income Tax Act, 1961 [Entire Act]
Section 50C in The Income Tax Act, 1961 [Entire Act]
The Commissioner Of Income Tax Delhi ... vs M/S Ansal Housing Finance And Leasing ... on 21 January, 2020
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ITA Nos.6626/Del/2019 &
6673/Del/2019
"house property" under section 22 of the Act. Both the parties are
very much ad idem that the instant issue is no more res integra in
the assessee's case as the hon'ble jurisdiction high court in CIT Vs.
Ansal Housing Finance and Leasing Company Ltd. (2013) 213
Taxman 143(Del) has already decided the same in the department's
favour.
Reegal Construction, Hooghly vs Ito, Hooghly on 13 July, 2023
and Reegal Construction v/s ITO, [2023] 154
taxman.com 350 (Kol. Trib.) have already settled the issue against
the department that in such an instance of the corresponding
income already assessed in the earlier assessment years, the
impugned provision would not get attracted. We thus accept the
assessee's instant second substantive ground and reject the
Revenue's all the corresponding pleadings qua the same in this
cross appeal in very terms.
Section 23 in The Income Tax Act, 1961 [Entire Act]
Smt. Cheryl Maria Fernandes, Mumbai vs Ito (It)-2(3)(1), Mumbai on 15 January, 2021
10. That being the case, we hereby quote Maria Fernandes Cheryl
Vs. ITO (2021) 123 taxmann.com 252 (Mum) that such a tolerance
margin of 10% therein carries retrospective effect being curative in
nature. We accordingly direct the learned Assessing Officer to
frame his consequential computation afresh, residential unit-wise,
in very terms.
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