https://www.taxtmi.com/caselaws?id=248200 Annual value of deemed let-out house properties was required to be determined on the basis of municipal ratable value where that value was available and had been consistently accepted in earlier assessments. The lower authorities had applied a notional estimate linked to market rent and assumed rental value, but that approach was rejected on these facts because the municipal valuation provided the proper basis under the house property provisions. The assessee's method was accepted, and the notional market-rent estimate was held unjustified for computing annual value. en-us Fri, 16 May 2014 00:00:00 +0530 Tue, 27 May 2014 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248200 Annual value of deemed let-out house properties was required to be determined on the basis of municipal ratable value where that value was available and had been consistently accepted in earlier assessments. The lower authorities had applied a notional estimate linked to market rent and assumed rental value, but that approach was rejected on these facts because the municipal valuation provided the proper basis under the house property provisions. The assessee's method was accepted, and the notional market-rent estimate was held unjustified for computing annual value. Case-Laws Income Tax Fri, 16 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248200