addition to the
extent of Rs.1,59,206/-, increasing the municipal rateable
value has been challenged.
2. Now, we shall take up the appeal ... assessee has challenged the
addition of Rs.1,59,206/- increasing the municipal rateable
value. The crux of the argument is that such an
enhancement
rateable value of Rs.11,712/- (Rs.5,856/- each for two flats) by
1/9th value of same. Since the said rateable value ... assessee has
challenged the addition of Rs.1,59,206/- increasing the municipal rateable
value. The crux of the argument is that such an enhancement
Officer to the extent of
Rs.2,16,077/- by increasing the municipal rateable value offered by the
Appellant.
3. It is therefore prayed that ... flats since 2006-07. Taking an annual increase of 5%
to be fair and reasonable, the rateable value returned by the appellant
is enhanced
assessee has challenged the
addition of Rs.1,59,206/- increasing the municipal
rateable value. The crux of the argument is that such an
enhancement ... Appeal), while confirming the addition and
enhancing the annual increase of 5% to the rateable
value is without any basis. So far as, the observation
Complex as vacant and has offered annual value of the flat as per
the municipal rateable value at Rs.12,00,429/-. The notice ... relevant assessment @ 5,11,175/- by increasing
the 5% of the municipal rateable value of the property in question.
Acordingly, the appeal of the assessee
appellant at Central Garden Complex Chunabhatti, Mumbai by increasing the municipal
rateable value by 5 % every year instead of Rs.1,55,318/- offered ... recompute the ALV by taking municipal rateable value as the basis and increase it by 5% every
year had vacated the same and directed that
offered by the appellant based on the municipal rateable value of the
said premises.
The learned CIT(A) failed to appreciate that the aforesaid premises ... estimation towards ALV by increasing 5% over the previous
year ALV determined on the basis of Municipal Rateable Value. The Ld. AR further
submitted that
Dlf Universal Ltd,, New Delhi vs Assessee on 15 June, 2008
ITA Nos. 3622/D
Hercules Hoists Ltd, Mumbai vs Assessee on 21 November, 2012
IN THE INCOME TAX APPELLATE
capital value' of the properties (earlier
the property tax was based on the rateable value of properties as
earlier prescribed) thereby increasing the quantum ... capital value of property', as against the amount payable prior
to the amendment (as per 'rateable value of the property') along
with
