COMMISSIONER OF INCOME TAX Vs. N BRAHAMACHARI

JUDGEMENT

(1.) THE Tribunal has referred to this Court the following question under s. 256(1) of the IT Act, 1961 :

(2.) THE assessment year involved is 1974-75 for which the relevant year ended on 31st March. 1974. It has been argued on behalf of the Revenue that the Tribunal went wrong in holding that the ITO and AAC were not justified in limiting the year to one year's arrear rent. In the instant case, income form house property after deduction of arrear rent irrecoverable was computed at more than Rs. 1 lakh. THE Triunal was of the view that under s. 24(1)(x) of the Act, the assessee is entitled to deduction of the entire amount of irrecoverable rent subject to the rules. It was further held by the Tribunal that neither cl. (x) of s. 24(1) nor r. 4 contain any prohibition on deduction for more than one year's rent. This finding of the Tribunal has been assailed.

(3.) THE paper book in the instant case has been very badly printed. THE Revenue must pay cost of this reference assessed at 60 Gms to the assessee.