https://www.taxtmi.com/caselaws?id=65150 The case involved the assessment of income from a property based on actual rent received versus agreed rent in a lease agreement. The Income Tax Officer (ITO) assessed income at Rs. 29,500, higher than the declared Rs. 9,600. The Judicial Member upheld the lease agreement's genuineness, supporting the agreed rent. The Accountant Member suggested reassessment, but the Judicial Member disagreed, favoring the assessee. The Third Member resolved the dispute, upholding the genuineness of the lease agreement and accepting the returned income. The appeal was accepted in favor of the assessee. en-us Fri, 27 Sep 1985 00:00:00 +0530 Sat, 12 Feb 2011 15:19:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65150 The case involved the assessment of income from a property based on actual rent received versus agreed rent in a lease agreement. The Income Tax Officer (ITO) assessed income at Rs. 29,500, higher than the declared Rs. 9,600. The Judicial Member upheld the lease agreement's genuineness, supporting the agreed rent. The Accountant Member suggested reassessment, but the Judicial Member disagreed, favoring the assessee. The Third Member resolved the dispute, upholding the genuineness of the lease agreement and accepting the returned income. The appeal was accepted in favor of the assessee. Case-Laws Income Tax Fri, 27 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65150