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2015 (7) TMI 1176 - AT - Income TaxComputation of ALV based on municipal rateable value of the property - Held that:- It is a decided issue that AO is prevented in this case and property from disturbing the ALV qua the (i) considering the notional interest on deposit and (ii) not considering the Municipal Ratable value-based-ALV of the property. In this year, AO has not garnered any incriminating material against the assessee‟s claim relating to ALV of the property in question. After considering the above submissions of the assessee as well as the arguments of the Ld DR for the Revenue, who essentially argued for setting aside the appeal to the file of the AO, we find the need for dismissing the arguments of the Ld DR. - Decided in favour of assessee.
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