https://www.taxtmi.com/caselaws?id=186592 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to accept the Annual Letting Value (ALV) at NIL for the property in question, 'Times Tower,' and calculate the loss under the head of 'House Property' accordingly. The Tribunal emphasized that the ALV should be determined based on the Annual Ratable Value established by municipal authorities and considered the efforts made by the assessee to let out the property, concluding that the property qualified as a let-out property under section 23(1)(c) with an ALV of NIL. en-us Wed, 31 Jul 2013 00:00:00 +0530 Mon, 24 Apr 2017 13:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186592 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to accept the Annual Letting Value (ALV) at NIL for the property in question, 'Times Tower,' and calculate the loss under the head of 'House Property' accordingly. The Tribunal emphasized that the ALV should be determined based on the Annual Ratable Value established by municipal authorities and considered the efforts made by the assessee to let out the property, concluding that the property qualified as a let-out property under section 23(1)(c) with an ALV of NIL. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186592