Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (10) TMI 952 - HC - Income TaxALV determination - Income from house property - municipal valuation disregarded - Held that:- Annual Letting Value has to be determined and in terms of section 23(1)(a) with reference to the municipal rateable value. If that is found to be vitiated and for the reasons set out in our judgment, then, alone a departure can be made. The Tribunal has held that there were no circumstances or factors brought on record which would enable the Assessing Officer to determine the Annual Letting Value by disregarding the municipal valuation. He could not have assumed any other value at which the property would be let from year to year. In such circumstances and his assumption being contrary to law, the Tribunal was justified in allowing the Assessee's Appeal.
|