https://www.taxtmi.com/caselaws?id=206380 Annual letting value of the house property was directed to be determined by reference to municipal rateable value and standard rent, and the matter was remitted to the Assessing Officer for fresh computation in line with earlier binding directions. For sub-letting income assessed as income from other sources, deduction under section 57(iii) was confined to expenditure laid out wholly and exclusively for earning that income; as the assessee produced no supporting evidence, the rent for office premises and other claimed expenses were disallowed. The appeal therefore succeeded only on the valuation issue and failed on the expense claim. en-us Fri, 22 Oct 2010 00:00:00 +0530 Sun, 30 Oct 2011 22:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206380 Annual letting value of the house property was directed to be determined by reference to municipal rateable value and standard rent, and the matter was remitted to the Assessing Officer for fresh computation in line with earlier binding directions. For sub-letting income assessed as income from other sources, deduction under section 57(iii) was confined to expenditure laid out wholly and exclusively for earning that income; as the assessee produced no supporting evidence, the rent for office premises and other claimed expenses were disallowed. The appeal therefore succeeded only on the valuation issue and failed on the expense claim. Case-Laws Income Tax Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206380