JAMES ANTHONY CARDOZO, MUMBAI V. ITO 19(2)-3, MUMBAI

ITA 4836/MUM/2012

• Counselvise Citation: [2012] 119 COUNSELVISE.COM (IT) 9236 (ITAT-MUMBAI)
• Duration Of Justice: 4 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-12-2012
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: SMC
• Next Hearing Date: 12-12-2012
• Assessment Year: 2008-2009
• Appeal Filed On: 24-07-2012
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Assessee Lawyers: KALIMULLAH DHALANI

Judgement Text

. , IN THE INCOME TAX APPELLATE TRIBUNAL SMC , BENCH MUMBAI , BEFORE SHRI R. K. GUPTA , JM ITA NO. 4 836 / MUM/ 20 1 2 ( ASSESSMEN T YEAR : 200 8 - 20 0 9 ) M/S JAMES ANTHONY CARDOZO, FLAT NO.2, VRINDA, PODDAR ROAD, SANTACRUZ (WEST), MUMBAI - 400 054. VS. ITO, WARD 19 (2)( 3 ), MUMBAI PAN/GIR NO. : A A EPC 7129 G ( APPELLANT ) .. ( RESPONDENT ) /ASSESSEE BY : MR. KALIMULLAH DHALANI /REVENUE BY : MR. RAKESH RANJAN DATE OF HEARING : 1 2 TH DEC . , 2012 DATE OF PRONOUNCEMENT : 19 TH DEC. , 2012 O R D E R THIS IS AN APPEAL BY THE ASSESSEE AGAINST THE ORDER DATED 23 - 4 - 2012 OF LEANED CIT(A) - 3 0 , MUMBAI RELA TING TO THE ASSESSMENT YEAR 200 8 - 0 9 . 2 . THE ASSESSEE IS OBJECTING THE CONFIRMATION OF ADDITION OF RS. 2,40,000/ - PER ANNUM IN RESPECT OF ANNUAL VALUE OF THE SECOND FLAT AGAINST THE MUNICIPAL RATEABLE VALUE OF RS. 1,40,140/ - . THE ASSESSEE IS ALSO OBJECTING THAT SINCE THE ASSESSEE IS OWNER OF THE SECOND HOUSE, ITA NO. 4836 /20 1 2 2 THEREFORE, ONLY 50% MUNICIPAL RATEABLE VALUE IS TO BE ADDED TO THE INCOME OF THE ASSESSEE. 3 . DURING THE ASSESSMENT PROCEEDINGS, THE AO NOTICED THAT THERE IS ANOTHER HOUSE AND THE ALV HAS NOT BEEN SHOWN BY THE ASSESSEE, NEITHER ANY DETAILS WERE FILED IN SPITE OF AFFORDING VARIOUS OPPORTUNITIES. THEREFORE, THE AO ESTIMATED ANNUAL VALUE OF SECO ND HOUSE AT RS. 2,40,000/ - AND THE SAME WAS ADDED IN THE HAND OF THE ASSESSEE. LEARNED CIT(A) HAS ALSO CONFIRMED THE ACTION OF THE ASSESSING OFFICER. 4 . AFTER CONSIDERING THE SUBMISSION, I FOUND THAT THE ASSESSEE DESERVES TO SUCCEED IN PART. A MUNICIPAL C ERTIFICATE IS PLACED ON RECORD BY WHICH THE ANNUAL RATEABLE VALUE IS SHOWN AS RS. 1,40,140/ - . THEREFORE, THE VALUE CANNOT BE TAKEN MORE THAN THE MUNICIPAL RATEABLE VALUE AS HELD BY VARIOUS HIGH COURTS INCLUDING THE JURISDICTIONAL HIGH COURT. ACCORDINGLY, I DIRECT THE ASSESSING OFFICER TO TAKE ALV AT RS. 1,40,140/ - AGAINST THE VALUE ADOPTED BY THE AO AT RS. 2,40,000/ - . IT IS ALSO SEEN THAT THE SECOND HOUSE IS OWNED BY THE ASSESSEE AND HIS WIFE. HIS WIFE IS ASSESSABLE SEPARATELY. THEREFORE, 50% OF ALV CAN BE ADD ED IN THE HANDS OF THE ASSESSEE. ACCORDINGLY, I DIRECT THE AO TO TAKE 50% OF THE ALV AS PER MUNICIPAL RATEABLE VALUE IN THE HANDS OF THE ASSESSEE. I ORDER ACCORDINGLY. 5 . IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWED IN PART . ITA NO. 4836 /20 1 2 3 ORDER PRONOUNCED IN THE OPEN COURT ON THIS 19 TH DAY OF DEC. 2012. 2012 SD/ - ( ) ( R.K.GUPTA ) / JUDICIAL MEMBER MUMBAI ; DATED : 19 / 1 2 / 2012 . /PKM , PS COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. / THE CIT(A) , MUMBAI. 4. / CIT 5. / DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY// / BY ORDER, ( DY./ASSTT. REGISTRAR) / ITAT, MUMBAI