ITAT Bombay-C dismisses departmental appeal on property income computation using Municipal Corporation rateable value.

The ITAT Bombay-C dismissed the departmental appeal against the CIT (A)'s order on computing income from property using the rateable value set by the Municipal Corporation for self-occupied property.

---

---

The ITAT Bombay-C dismissed the departmental appeal against the order of the CIT (A) regarding the computation of income from property based on rateable value fixed by the Municipal Corporation instead of market value. The decision was based on previous rulings and held that for self-occupied property, income should be calculated using the rateable value. (Case citation: 1981 (3) TMI 100 - ITAT BOMBAY-C)

---