ALLIED FINANCE P. LTD.,NEW DELHI V. ACIT, DELHI

ITA 4089/DEL/1994

AI Insights

The case involves M/s. Allied Finance Pvt. Ltd., the appellant, and the ACIT, Delhi, the respondent, concerning disputes over the annual letting value (ALV) of a house property for several assessment years. The tribunal's decision follows a series of appeals and restorations by various judicial bodies, including the High Court, which directed the tribunal to decide afresh on the matter. The primary legal contention revolves around the appropriate valuation of the property, which has been a recurring issue in the assessments for the years 1990-91, 1992-93, and 1993-94.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 40587 (ITAT-DELHI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-03-2025
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: F
• Assessment Year: 1990-1991
• Other Referred Cases: R.K.K.R. International (P.) Ltd. Vs. ACIT
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: HARPREET KAUR HANSRA

Judgement Text

" IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI BENCH: ‘F’ NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER ITA Nos.3761 & 4089/Del/1994 Assessment Year: 1990-91 With ITA No.3277/Del/1996 Assessment Year: 1992-93 With ITA No.1452/Del/1997 Assessment Year: 1993-94 M/s. Allied Finance Pvt. Ltd., New Delhi Vs. ACIT, Delhi PAN: AAACA3030B (Appellant) (Respondent) ORDER PER SATBEER SINGH GODARA, JM Cases called twice. None appears at the assessee’s behest. We accordingly proceeded ex-parte against the assessee herein, M/s. Allied Finance Pvt. Ltd. 2. We advert to the first and foremost AY 1990-91 wherein the assessee and the Revenue have filed their respective cross-appeals ITA No. 3761 & 4089/Del/1994 which are directed against the Assessee by None Department by Ms. Harpreet Kaur Hansra, Sr. DR Date of hearing 12.03.2025 Date of pronouncement 19.03.2025 ITA Nos.3761 & 4089/Del/1994; 3277/Del/1996 & 1452/Del/1997 2 | P a g e CIT(A)-VIII, New Delhi’s order dated 31.03.1994 in proceedings u/s 143(3) of the Income-tax Act, 1961 (in short ‘the Act’). 3. It emerges during the course of hearing with the able assistance coming from the Revenue side that this is the “second” round of proceedings before us. The earlier learned coordinate bench’s order dated 17.07.2000 appears to have restored the instant sole issue between the parties i.e. annual letting value “ALV” of the house property in question, back to the Assessing Officer, as per the “Municipal Corporation” valuation. The matter thereafter travelled to hon’ble jurisdictional high court in the assessee’s tax appeal ITA Nos. 142/2000 and 41/2001 which stand restored back to us vide their lordships order dated 04.08.2015 to be decided afresh along-with appeals arising in AYs 1988-89 and 1990. 4. That being the case, we sought to ascertain the finality of proceedings in the instant issue in AY 1989-90. We are informed that the assessee owned 1/3rd share and this tribunal’s “C” Bench’s order (1998) 65 ITD 512 (Delhi) R.K.K.R. International (P.) Ltd. Vs. ACIT had restored the issue back to the Assessing Officer to adopt “municipal valuation”. And that both these assessees happened to ITA Nos.3761 & 4089/Del/1994; 3277/Del/1996 & 1452/Del/1997 3 | P a g e be the co-owners in the very house -property. We thus reiterate our earlier first round order dated 17.07.2000 and restore the instant sole issue to the learned Assessing Officer for his afresh appropriate adjudication in very terms as per law. This assessee’s appeal ITA No.3761/Del/1994 is partly allowed for statistical purposes and Revenue’s cross-appeal ITA No.4089/Del/1994 is allowed for statistical purposes in very terms. 5. Same order to follow in the latter twin assessment years i.e AY 1992-93 and 1993-94 involving the assessee’s appeals ITA No. 3277/Del/1996 and 1452/Del/1997 raising the very issue which are hereby restored back to the learned Assessing Officer in very terms. 6. These assessee’s appeals ITA No. 3761/Del/1994; 3277/Del/1996 and 1452/Del/1997 with Revenue’s cross-appeal to the first and foremost case ITA No. 4089/Del/1994; are partly allowed/allowed for statistical purposes, in above terms. A copy of this common order be placed in the respective case files. Order pronounced in the open court on 19th March, 2025 Sd/- Sd/- (S. RIFAUR RAHMAN) (SATBEER SINGH GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 19th March, 2025. ITA Nos.3761 & 4089/Del/1994; 3277/Del/1996 & 1452/Del/1997 4 | P a g e RK/- Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asst. Registrar, ITAT, New Delhi "