https://www.taxtmi.com/caselaws?id=241721 The Tribunal upheld the decision of the Ld.CIT(A) to accept the actual rent declared by the assessee as the income from house property for Assessment Years 2007-08 & 2008-09. The Tribunal emphasized that the actual rent should represent the annual value if higher than the expected property rent, in line with legislative intent clarified by CBDT Circular No.204. Dismissing the Revenue's appeals, the Tribunal ruled that the significant difference between the actual rent and the rateable value justified accepting the actual rent as the income from house property. en-us Wed, 27 Nov 2013 00:00:00 +0530 Mon, 30 Dec 2013 14:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241721 The Tribunal upheld the decision of the Ld.CIT(A) to accept the actual rent declared by the assessee as the income from house property for Assessment Years 2007-08 & 2008-09. The Tribunal emphasized that the actual rent should represent the annual value if higher than the expected property rent, in line with legislative intent clarified by CBDT Circular No.204. Dismissing the Revenue's appeals, the Tribunal ruled that the significant difference between the actual rent and the rateable value justified accepting the actual rent as the income from house property. Case-Laws Income Tax Wed, 27 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241721