https://www.taxtmi.com/caselaws?id=170979 In assessing rateable value under section 154(1) of the Bombay Municipal Corporation Act, 1888, the authority may look beyond actual letting rent and include income flowing from advantageous use of the building that a hypothetical tenant would reasonably consider. Extra return from a rooftop advertisement hoarding formed part of the building's beneficial value, and the fact that the arrangement was styled as a licence rather than a lease did not prevent its inclusion. The enhancement in rateable value was therefore upheld in favour of the municipal corporation. en-us Fri, 15 Sep 1967 00:00:00 +0530 Mon, 06 Jul 2015 16:36:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170979 In assessing rateable value under section 154(1) of the Bombay Municipal Corporation Act, 1888, the authority may look beyond actual letting rent and include income flowing from advantageous use of the building that a hypothetical tenant would reasonably consider. Extra return from a rooftop advertisement hoarding formed part of the building's beneficial value, and the fact that the arrangement was styled as a licence rather than a lease did not prevent its inclusion. The enhancement in rateable value was therefore upheld in favour of the municipal corporation. Case-Laws Indian Laws Fri, 15 Sep 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170979