Commissioner of Income-tax v. DLF Universal Ltd
[Citation -2017-LL-0518-26]
| Citation | 2017-LL-0518-26 |
|---|---|
| Appellant Name | Commissioner of Income-tax |
| Respondent Name | DLF Universal Ltd. |
| Court | HIGH COURT OF DELHI AT NEW DELHI |
| Relevant Act | Income-tax |
| Date of Order | 18/05/2017 |
| Assessment Year | 1999-00 |
| Judgment | View Judgment |
| Keyword Tags | valuation of closing stock • income from house property |
| Bot Summary: | This appeal by the Revenue under Section 260 A of the Income Tax Act 1961 is directed against the order dated 6th June 2008 passed by the Income Tax Appellate Tribunal in ITA No.695/Del/2003 for Assessment Year 1999-2000. While admitting this appeal on 30th November 2011, this Court framed for consideration the following questions of law: Whether the ITAT was correct in law in upholding the order of Commissioner of Income Tax and giving ITA 176/2010 Page 1 of 2 the relief of Rs.4,85,240/- regarding valuation of closing stock by reducing valuation of closing stock by the sellable area at 60.77 Whether the CIT erred in law in directing the AO to assess the rent receipts form DLF Centre which also includes air conditioning charges as Income from House Property 3. Question stands answered in favour of the Assessee by the judgment dated 21st December, 2016 passed by this court in ITA Nos. As far as question is concerned, by separate order passed by this court in today in ITA 407 of 2009 for AY 1997-98 filed by the Revenue against the same Assessee, the question stands answered in favour of the Assessee and against the Revenue. |