Income from house property - ALV determination - these are the ...

Revenue Authorities Faulted for Arbitrary Property Rental Value Assessment Lacking Justifiable Evidence.

November 23, 2021

Case Laws Income Tax AT

Income from house property - ALV determination - these are the guiding factors for determining the annual rental value of the property and any deviation from the same is to be based on evidence showing that it is wrong. We find the entire exercise of the Revenue Authorities in the present case for determining the annual ALV of the property as being arbitrary. No reason has been given for adopting the fair rent determined by the valuer as against the municipal valuation or of the standard rent of the property, which has not even been determined in the present case. - AT

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Income from house property - ALV determination - these are the ...

Revenue Authorities Faulted for Arbitrary Property Rental Value Assessment Lacking Justifiable Evidence.

November 23, 2021

Case Laws Income Tax AT

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