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2012 (12) TMI 1155 - AT - Income TaxDetermination of annual letting value (ALV) of the property u/s 23(1) - whether it can be determined as per municipal valuation or not? - Held that:- Annual letting value of the property in question should be determined as per the municipal valuation/rateable value adopted by the municipal authorities. Accordingly, the Assessing Officer is directed to adopt the municipal valuation/rateable value adopted by the municipal authorities.
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