https://www.taxtmi.com/caselaws?id=173701 The Court upheld the Tribunal's decision to determine the annual letting value based on municipal valuation and not exceeding the correct legal principles, even if lower than the figure returned by the assessee. It emphasized the importance of assessing income in accordance with the law and correct legal principles. The judgment clarified that the annual letting value should be determined with reference to the standard rent under the Rent Control Law applicable to the property. en-us Sat, 31 Dec 1994 00:00:00 +0530 Mon, 21 Sep 2015 13:21:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173701 The Court upheld the Tribunal's decision to determine the annual letting value based on municipal valuation and not exceeding the correct legal principles, even if lower than the figure returned by the assessee. It emphasized the importance of assessing income in accordance with the law and correct legal principles. The judgment clarified that the annual letting value should be determined with reference to the standard rent under the Rent Control Law applicable to the property. Case-Laws Income Tax Sat, 31 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173701