https://www.taxtmi.com/caselaws?id=121786 The Tribunal upheld the CIT(A)'s order, modifying it to allow the deduction of municipal taxes paid by Mrs. Resham Wadhwa. The assessee's appeal was dismissed, affirming the determination of the annual value of the property at Rs. 27,36,000 based on the sub-tenant's rent, deemed to be on behalf of the assessee. The Tribunal emphasized the need to assess income in the right hands, rejecting the contention of no tax evasion due to both parties being in the highest tax bracket. en-us Tue, 11 Nov 2008 00:00:00 +0530 Mon, 06 Aug 2012 12:49:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121786 The Tribunal upheld the CIT(A)'s order, modifying it to allow the deduction of municipal taxes paid by Mrs. Resham Wadhwa. The assessee's appeal was dismissed, affirming the determination of the annual value of the property at Rs. 27,36,000 based on the sub-tenant's rent, deemed to be on behalf of the assessee. The Tribunal emphasized the need to assess income in the right hands, rejecting the contention of no tax evasion due to both parties being in the highest tax bracket. Case-Laws Income Tax Tue, 11 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121786