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2003 (4) TMI 20 - HC - Income TaxRental received - determining the annual value – Property – a lease deed was entered into between the assessee and the firm, Lakshmi & Co., consisting of the wife and daughter of karta of the assessee Hindu undivided family and a trusted employee of the kartha as partners, under which the entire building was leased out to the firm on a monthly rent of Rs. 6,250. The firm, in turn, entered into several agreements of lease with different tenants in respect of several portions of the building - Tribunal was right in rejecting the claim of the appellant that the rent received by it from the firm comprising of the wife and daughter should be taken as the annual value
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