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2018 (1) TMI 937 - AT - Income TaxEstimation of rent made by the AO - annual rental value of the said flat u/s. 23 - Held that:- It cannot be denied that there is no relationship whatsoever between the Licensor and the Licensee, viz. the Induslnd Bank in the present case, nor is there any finding that there are any suspicious circumstances or any fraud or collusion surrounding the Leave & License arrangement entered into by the appellant. That being so, the case of Tip Top Typographies cited by the appellant's representative as well as of Moni Kumar Subba, and the ratio thereof cited approvingly by the Hon'ble High Court in the appellant's own case, covers the facts of the appellant's case. On the facts of the present case, the conditions precedent to resort to enquiry or adoption of the prevailing rateable value are absent. In view of the same, and in considered opinion, the rent actually received by the appellant shall be taken to be the actual rent for tax purposes. - Decided against revenue.
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