[aaykarbhavan] Reassessment to tax income from house property upheld as ALV of property assessed at higher rate in prior year

Reassessment to tax income from house property upheld as ALV of property assessed at higher rate in prior year

November 4, 2014[2014] 49 taxmann.com 479 (Mumbai - Trib.)/[2014] 150 ITD 659 (Mumbai - Trib.)

IT : Where Assessing Officer having completed assessment taking rental value of property at a particular amount, initiated reassessment proceedings finding that in earlier assessment year rental value accompanied by interest free deposit had been assessed at higher amount and said annual value would have only witnessed an increase during intervening period of two years, validity of proceedings so initiated deserved to be upheld

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Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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