https://www.taxtmi.com/caselaws?id=215674 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s order to determine the Annual Letting Value (ALV) of the property based on the actual rent received, excluding notional rent for incomplete floors lacking basic amenities for occupation. The decision was supported by interpretations of relevant provisions of law and previous case laws, emphasizing that the ALV should reflect the actual rent in cases where the property is incomplete or lacks essential amenities for occupation. en-us Fri, 15 Jun 2012 00:00:00 +0530 Sat, 04 Aug 2012 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215674 The Tribunal dismissed the revenue's appeal and upheld the CIT(A)'s order to determine the Annual Letting Value (ALV) of the property based on the actual rent received, excluding notional rent for incomplete floors lacking basic amenities for occupation. The decision was supported by interpretations of relevant provisions of law and previous case laws, emphasizing that the ALV should reflect the actual rent in cases where the property is incomplete or lacks essential amenities for occupation. Case-Laws Income Tax Fri, 15 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215674