https://www.taxtmi.com/caselaws?id=116702 The Tribunal allowed the assessee's appeals, overturning the lower authorities' decision regarding the determination of annual letting value (ALV) for the property. It held that the actual rent received should be the basis for calculating ALV, emphasizing the importance of evidence and legal precedents in assessing fair rental values for properties under tenancy. The decision provides clarity on ALV principles and highlights the significance of actual rent in such assessments, setting a precedent for future cases with similar issues. en-us Sun, 01 Feb 2004 00:00:00 +0530 Fri, 15 Jun 2012 10:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116702 The Tribunal allowed the assessee's appeals, overturning the lower authorities' decision regarding the determination of annual letting value (ALV) for the property. It held that the actual rent received should be the basis for calculating ALV, emphasizing the importance of evidence and legal precedents in assessing fair rental values for properties under tenancy. The decision provides clarity on ALV principles and highlights the significance of actual rent in such assessments, setting a precedent for future cases with similar issues. Case-Laws Income Tax Sun, 01 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116702