https://www.taxtmi.com/caselaws?id=77135 The High Court set aside all previous orders in a tax assessment dispute regarding the valuation of an unlet property portion for the block assessment period 1988-99. The Court remanded the matter for a fresh assessment, instructing consideration of the standard rent under the Tamilnadu Buildings (Lease and Rent Control) Act, 1960, and the market value of a nearby building let out by the Corporation of City of Chennai. The Court emphasized the importance of properly valuing the unlet portion based on relevant legal provisions, leading to the decision for a reassessment. en-us Tue, 24 Nov 2009 00:00:00 +0530 Fri, 01 Feb 2013 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77135 The High Court set aside all previous orders in a tax assessment dispute regarding the valuation of an unlet property portion for the block assessment period 1988-99. The Court remanded the matter for a fresh assessment, instructing consideration of the standard rent under the Tamilnadu Buildings (Lease and Rent Control) Act, 1960, and the market value of a nearby building let out by the Corporation of City of Chennai. The Court emphasized the importance of properly valuing the unlet portion based on relevant legal provisions, leading to the decision for a reassessment. Case-Laws Income Tax Tue, 24 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77135