Determination of ALV of a let out property
Dec 28, 2009 Income Tax Case Laws
In respect of the properties where restriction under Rent Control Act is not applicable, the annual letting value has got to be determined after taking into consideration various factors and the standard rent or Municipal valuation may be adjusted after taking into account such factors.
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Tags: benches, control act, controversy, decisions, mumbai, provisions, rent control, restriction, section 23, taking into consideration, tribunal
Annual Letting Value of house property under section 23(1)(a) of Income Tax Act, 1961
Nov 22, 2009 Income Tax Case Laws
SUMMARY OF CASE LAW
In respect of properties where restriction under Rent Control Act is not applicable, the annual letting value has got to be determined after taking into consideration various factors and the standard rent or Municipal valuation may be adjusted after taking into account such factors.
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Tags: Annual Letting Value, benches, control act, paragraph 11, relevant paragraph, rent control, restriction, section 23, Supreme Court