https://www.taxtmi.com/caselaws?id=258525 The Court allowed the Appeal, setting aside the previous order and remanding the matter for reconsideration in accordance with established legal principles and guidelines provided in relevant judgments. The dispute centered on whether standard rent or municipal rateable value should be used in computing property income under the Income Tax Act, 1961. The Court emphasized the importance of standard rent as an upper limit for determining annual letting value, especially in cases involving rent control legislation. en-us Fri, 20 Mar 2015 00:00:00 +0530 Tue, 11 Aug 2015 12:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258525 The Court allowed the Appeal, setting aside the previous order and remanding the matter for reconsideration in accordance with established legal principles and guidelines provided in relevant judgments. The dispute centered on whether standard rent or municipal rateable value should be used in computing property income under the Income Tax Act, 1961. The Court emphasized the importance of standard rent as an upper limit for determining annual letting value, especially in cases involving rent control legislation. Case-Laws Income Tax Fri, 20 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258525