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2019 (2) TMI 228 - ITAT CHENNAIDetermination of house property - Correct annual letting value - Application of the provisions of the section 23(1)(c) - Held that:- A perusal of the assessment order clearly shows that the Assessing Officer has not pointed out how the Inspector has determined the fair rent at the rates determined by him. Obviously, when the municipal tax has been paid in respect of the particular property, the annual letting value on the vacant property can be determined only at the municipal retable value. The determination of the annual letting value as done by the AO is found to be erroneous and consequently, the issue is restored to the file of AO for re-adjudication by applying the provisions of the section 23(1)(c) of the Act to determine the correct annual letting value.- Appeal of the assessee is partly allowed for statistical purposes.
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