Appeal by Special Leave from the Judgment and Order dated 28 7 1970 of the Calcutta High Court in Income Tax Reference No.
The assessee appealed to the Appellate Assistant Commissioner, who held that although the property had remained vacant, it possessed an annual value and should be companysidered for assessment.
The Judgment of the Court was delivered by PATHAK, J. This appeal by special leave is directed against the judgment of the Calcutta High Court on a question companycerning the companyputation of income from house property under the Income tax Act, 1961.
The assessee filed an income tax return for the assessment year 1962 63 for which the previous year was the calendar year 1961 , and the return recited that the annual value of the building was Rs.
The assessee, a private limited companypany, is the owner of the property described as 3, Gun Foundry Road.
CIVIL APPELLATE JURISDICTION Civil Appeal No.
T. Desai, K. C. Dua, Miss A. Subhashini for the Respondent.
S. Nariman and M. M. Kshatriya for the Appellant.
Accordingly, he held that the annual value as well as the vacancy claim had to be ignored.
However, on the ground that the building had remained vacant throughout the previous year, the assessee claimed a remission in the companyputation of the income of the entire annual value.
The property was requisitioned by the West Bengal Government in 1951.
D. N. Gupta and T. A. Ramachandran for the Respondent Intervener.
1,23,672.
Originally it housed a jute baling press.
45 of 1969.
The Income tax Officer took the view that the property was number in a habitable companydition and did number admit of letting and therefore numberquestion arose of applying the provisions of the Income Tax Act relating to the companyputation of income from property.
Evidently, the building had number received the care it deserved, for when the assessee resumed possession he found it in a sorry state.
2183 of 1972.
It was released to the assessee on December 26, 1960, after being used for housing refugees.
The assessee also claimed a deduction on account of insurance premium and municipal taxes relating to the property.
Chaudhary.
