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2014 (11) TMI 1157 - AT - Income TaxMethod of computation of ALV - Held that:- See Smitaben N Ambani vs. CWT [2009 (1) TMI 430 - BOMBAY HIGH COURT] wherein it was held that rateable value of the properties determined by the Municipal Authorities shall be the yard stick. In any case, the percentage of investment in the impugned properties is no basis for arriving at the ALV of the properties. Accordingly, the grounds raised by the Revenue are dismissed.
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