Gross maintainable rent: where rent is pegged and not increasable, actual rent received ordinarily determines valuation. Where a residential house's rent is pegged and cannot be increased, the basis for arriving at gross maintainable rent under the Wealth tax valuation rule is ordinarily the rent actually received or receivable by the owner, rather than a notional or market rent.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Gross maintainable rent: where rent is pegged and not increasable, actual rent received ordinarily determines valuation.
Where a residential house's rent is pegged and cannot be increased, the basis for arriving at gross maintainable rent under the Wealth tax valuation rule is ordinarily the rent actually received or receivable by the owner, rather than a notional or market rent.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.