https://www.taxtmi.com/caselaws?id=259674 Annual letting value under section 23(1) is to be based on the rent the property might reasonably fetch, but where rent control legislation applies, that figure cannot exceed the standard rent under that law. Even if standard rent has not been formally fixed by the rent controller, the assessing authority must determine it by applying the principles of the applicable rent control statute. The assessment therefore required fresh determination by the Assessing Officer on that basis. en-us Fri, 13 Feb 2015 00:00:00 +0530 Mon, 18 May 2015 07:31:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259674 Annual letting value under section 23(1) is to be based on the rent the property might reasonably fetch, but where rent control legislation applies, that figure cannot exceed the standard rent under that law. Even if standard rent has not been formally fixed by the rent controller, the assessing authority must determine it by applying the principles of the applicable rent control statute. The assessment therefore required fresh determination by the Assessing Officer on that basis. Case-Laws Income Tax Fri, 13 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259674