https://www.taxtmi.com/caselaws?id=172524 HC upheld the Tribunal's use of the municipal valuation (increased by 1/9th) as the annual value, rejecting actual rent as irrelevant where deemed too low. Questions were answered in favour of the assessee. The Court held annual value must follow municipal valuation when undisputed, and refused any addition for notional interest on tenant deposits-no basis in sections 22 or 23 of the Income-tax Act. House property income is computed on a deemed basis; statutory deductions for repairs and municipal taxes apply, reimbursements borne by the tenant are not added to annual value, and excess actual repair expenses beyond statutory limits are not deductible. en-us Mon, 02 Aug 1993 00:00:00 +0530 Fri, 17 Oct 2025 17:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172524 HC upheld the Tribunal's use of the municipal valuation (increased by 1/9th) as the annual value, rejecting actual rent as irrelevant where deemed too low. Questions were answered in favour of the assessee. The Court held annual value must follow municipal valuation when undisputed, and refused any addition for notional interest on tenant deposits-no basis in sections 22 or 23 of the Income-tax Act. House property income is computed on a deemed basis; statutory deductions for repairs and municipal taxes apply, reimbursements borne by the tenant are not added to annual value, and excess actual repair expenses beyond statutory limits are not deductible. Case-Laws Income Tax Mon, 02 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172524