https://www.taxtmi.com/caselaws?id=219356 The Tribunal allowed the appeal of the assessee in the case involving the computation of income from house property. It directed the Assessing Officer to accept the income based on the municipal ratable value, rejecting the inclusion of notional interest on security deposits. The decision was supported by judicial precedents emphasizing the relevance of municipal valuation in determining the annual letting value, aligning with fair rent determination under the Income Tax Act and property tax valuation principles established by court decisions. en-us Fri, 12 Oct 2012 00:00:00 +0530 Tue, 11 Dec 2012 22:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219356 The Tribunal allowed the appeal of the assessee in the case involving the computation of income from house property. It directed the Assessing Officer to accept the income based on the municipal ratable value, rejecting the inclusion of notional interest on security deposits. The decision was supported by judicial precedents emphasizing the relevance of municipal valuation in determining the annual letting value, aligning with fair rent determination under the Income Tax Act and property tax valuation principles established by court decisions. Case-Laws Income Tax Fri, 12 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219356