https://www.taxtmi.com/caselaws?id=117612 The Tribunal dismissed the Revenue's appeals concerning the interpretation of section 23(1) of the Income-tax Act for computing Annual Letting Value. Emphasizing consistency in decisions, the Tribunal ruled that the actual rent received by the assessee should determine the fair rent, following the Calcutta High Court's precedent. Collusion between parties was deemed crucial, with no established collusion in this case. The judgment clarified the importance of considering precedents and ruling out collusion to ascertain the correct fair rent for income computation from house property. en-us Tue, 01 Mar 2005 00:00:00 +0530 Mon, 25 Jun 2012 13:36:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117612 The Tribunal dismissed the Revenue's appeals concerning the interpretation of section 23(1) of the Income-tax Act for computing Annual Letting Value. Emphasizing consistency in decisions, the Tribunal ruled that the actual rent received by the assessee should determine the fair rent, following the Calcutta High Court's precedent. Collusion between parties was deemed crucial, with no established collusion in this case. The judgment clarified the importance of considering precedents and ruling out collusion to ascertain the correct fair rent for income computation from house property. Case-Laws Income Tax Tue, 01 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117612