section 24 - Page 7

Determination of annual value of a IInd house which is not let out

Ramesh Chand Vs. ITO (ITAT Agra)

4.3 Both the authorities below have taken a view that though section 24(b) does not draw any distinction between a property that is self-occupied and one that is not, the assessee having not disclosed any income (annual value) there-against, and which can only be in respect of one house property, which stands already specified by him (the...

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Estate of Ambalal Sarabhai vs CIT (Gujarat High Court)

Estate Of Ambalal Sarabhai Vs Commissioner Of Income-Tax (Gujarat High Court)

The Tribunal, Ahmedabad Bench, has referred the following questions in respect of the asst. yrs. 1972-73 and 1973-74 for the consideration of the High Court under s. 256(1) of the IT Act, from the Tribunal's order dt. 18th August 1981, and 20th August 1983, the later being question on the ground which was raised but through oversight not ...

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CIT vs J. K. Investor (Bombay) Ltd. (Bombay High Court)

Commissioner Of Income Tax Vs J. K. Investor (Bombay) Ltd. (Bombay High Court)

The short point which arises for consideration in this appeal is : Whether notional interest on interest-free deposit received by the assessee against letting of property could be taken into account in cases falling under section 23(1)(b) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') In other words, whether notional i...

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M/s. Chelmsford Club Vs CIT (Supreme Court)

M/S. Chelmsford Club Vs Commissioner Of Income-Tax (Supreme Court of India)

The High Court relying on Section 22 of the Income Tax Act, 1961 (hereinafter referred to as the Act) and following the judgment of Allahabad High Court in the case of C.I.T., U.P. v. Wheeler Club Limited {(1963) 49 ITR 52} and some observations of the Delhi High Court in the case of C.I.T., Delhi-II v. Delhi Gymkhana Club Ltd. (155 ITR 3...

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CIT vs Sampathammal Chordia (Madras High Court)

Commissioner Of Income-Tax Vs Sampathammal Chordia (Madras High Court)

Whether, on the facts and in the circumstances of the case and having regard to the provisions of Section 23 of the Income-tax act, 1961, the Appellate Tribunal was right in holding that only the actual rental receipts should be treated as annual letting value though the municipal authorities have fixed the annual value at a higher figure...

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CIT vs Tarachand Kalyanji (Bombay High Court)

Commissioner Of Income-Tax Vs Tarachand Kalyanji (Bombay High Court)

The question whether the charge was voluntary or involuntary will have to be decided with reference to the facts relating to the creation of such charge. If the charge is created voluntarily, it remains so, whether it is created before the amendment or after the amendment....

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CIT vs Parbutty Churn Law (Calcutta High Court)

Commissioner Of Income-Tax vs Parbutty Churn Law (Calcutta High Court)

Under Income-tax Act the annual value of the property is to be taken as a sum which the property might reasonably be expected to fetch. The annual value is no doubt a hypothetical sum. But what is to be taken into consideration is the whole of the consideration which the landlord receives from the tenant for his right to use and occupy t...

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May 2020