2000 (2) TMI 18

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..... aring and disposed of. The facts giving rise to this appeal briefly are as follows: The appellants started construction of a building at Mahalaxmi. The said building was let out to a family trust at the annual rent of Rs. 7,20,000. The said trust created a sub-tenancy in favour of the Union of India. For the purpose of computation of the income under the head "Income from house property", the as .....

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..... short point which arises for consideration in this matter is whether the determination of the annual letting value at Rs. 20,41,776 for the purpose of section 23 of the Act is contrary to the provisions of the Income-tax Act. On the facts it may be mentioned that the Court of Small Causes at Bombay has fixed the standard rent of the premises at Rs. 53,325 per month from March 1, 1982. This evidenc .....

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