https://www.taxtmi.com/caselaws?id=173100 The Tribunal ruled in favor of the assessee for the assessment years 2008-2009 and 2009-2010, determining the annual letting value (ALV) based on actual rent received rather than estimated rent. The decision was consistent with precedents from the Mumbai Benches of the Tribunal, holding that municipal ratable value represents fair rental value. If actual rent exceeds municipal value, it should be considered as ALV. The Tribunal found the Assessing Officer failed to show that the municipal ratable value did not reflect the correct fair rent, affirming the impugned order for both assessment years. en-us Fri, 30 Aug 2013 00:00:00 +0530 Wed, 09 Sep 2015 11:44:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173100 The Tribunal ruled in favor of the assessee for the assessment years 2008-2009 and 2009-2010, determining the annual letting value (ALV) based on actual rent received rather than estimated rent. The decision was consistent with precedents from the Mumbai Benches of the Tribunal, holding that municipal ratable value represents fair rental value. If actual rent exceeds municipal value, it should be considered as ALV. The Tribunal found the Assessing Officer failed to show that the municipal ratable value did not reflect the correct fair rent, affirming the impugned order for both assessment years. Case-Laws Income Tax Fri, 30 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173100