M/s. Allied Finance Pvt. Ltd. Vs. ACIT

Parties Involved

Facts Summary

The case involves multiple appeals by M/s. Allied Finance Pvt. Ltd. against the Assessing Officer's orders for the assessment years 1990-91, 1992-93, and 1993-94. The primary issue in dispute is the annual letting value (ALV) of a house property owned by the assessee. The matter has been through multiple rounds of proceedings, including earlier orders by coordinate benches and the jurisdictional high court, which have restored the issue to the Assessing Officer for fresh adjudication based on municipal valuation. The assessee and the Revenue have filed cross-appeals, and the case has been heard ex-parte as the assessee did not appear.…

Legal Issues

• 1. Determination of the annual letting value (ALV) of the house property in question for the assessment years 1990-91, 1992-93, and 1993-94.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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