https://www.taxtmi.com/caselaws?id=251737 The High Court held that the assessing officer must consider Rent Control Legislation when determining the fair rent or annual letting value of a property under section 23(1)(a) of the Income Tax Act, 1961. The judgment emphasized that the annual letting value should be based on reasonable factors, with the standard rent acting as an upper limit. The Court clarified that in cases subject to Rent Control Legislation, the assessing officer must adhere to rent control laws when determining the fair rent or annual letting value, ensuring compliance with established legal principles. en-us Thu, 11 Sep 2014 00:00:00 +0530 Fri, 26 Sep 2014 08:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251737 The High Court held that the assessing officer must consider Rent Control Legislation when determining the fair rent or annual letting value of a property under section 23(1)(a) of the Income Tax Act, 1961. The judgment emphasized that the annual letting value should be based on reasonable factors, with the standard rent acting as an upper limit. The Court clarified that in cases subject to Rent Control Legislation, the assessing officer must adhere to rent control laws when determining the fair rent or annual letting value, ensuring compliance with established legal principles. Case-Laws Income Tax Thu, 11 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251737