https://www.taxtmi.com/caselaws?id=7092 Restrictive terms in a will preventing letting or occupation by anyone other than the priest and servants do not, by themselves, eliminate bona fide annual value under section 9(2) of the Income-tax Act, 1922. Property income under section 9 is assessed on the basis of the sum for which the property might reasonably be expected to let from year to year, so a restriction on actual letting may reduce the notional value but does not destroy the statutory concept of annual value or exclude the property from tax. The Tribunal was therefore wrong in holding that the premises had no letting value merely because of the testamentary injunction, and the issue was decided in favour of the Revenue. en-us Wed, 19 Jul 1967 00:00:00 +0530 Sun, 08 Feb 2009 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7092 Restrictive terms in a will preventing letting or occupation by anyone other than the priest and servants do not, by themselves, eliminate bona fide annual value under section 9(2) of the Income-tax Act, 1922. Property income under section 9 is assessed on the basis of the sum for which the property might reasonably be expected to let from year to year, so a restriction on actual letting may reduce the notional value but does not destroy the statutory concept of annual value or exclude the property from tax. The Tribunal was therefore wrong in holding that the premises had no letting value merely because of the testamentary injunction, and the issue was decided in favour of the Revenue. Case-Laws Income Tax Wed, 19 Jul 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7092