https://www.taxtmi.com/caselaws?id=208999 The Tribunal upheld the Commissioner of Income Tax's jurisdiction under section 263 but modified the direction to recompute income by setting it aside to the Assessing Officer for proper verification and examination. The Tribunal emphasized the importance of following the prescribed method for determining the Annual Letting Value under section 23(1). The appeal was partly allowed for statistical purposes, with a focus on addressing procedural errors rather than the imposition of penalties under section 271(1)(c). en-us Fri, 25 Mar 2011 00:00:00 +0530 Mon, 05 Aug 2013 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208999 The Tribunal upheld the Commissioner of Income Tax's jurisdiction under section 263 but modified the direction to recompute income by setting it aside to the Assessing Officer for proper verification and examination. The Tribunal emphasized the importance of following the prescribed method for determining the Annual Letting Value under section 23(1). The appeal was partly allowed for statistical purposes, with a focus on addressing procedural errors rather than the imposition of penalties under section 271(1)(c). Case-Laws Income Tax Fri, 25 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208999