https://www.taxtmi.com/caselaws?id=8869 For computing annual value under sections 22 and 23 of the Income-tax Act, 1961, the notional reasonable rent may differ from the actual contractual rent, and relevant valuation evidence cannot be ignored without proper basis. A local authority's valuation certificate, prepared with reference to the same rent and lease terms, was material to the inquiry under section 23 and provided prima facie support for the assessee's case that the contract rent exceeded the reasonable rent. In the absence of material showing that relevant factors were omitted, the Tribunal erred in refusing to consider that evidence, and its finding was vitiated. The question was answered in the negative, in favour of the assessee. en-us Thu, 07 Jun 1973 00:00:00 +0530 Tue, 16 Jun 2009 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8869 For computing annual value under sections 22 and 23 of the Income-tax Act, 1961, the notional reasonable rent may differ from the actual contractual rent, and relevant valuation evidence cannot be ignored without proper basis. A local authority's valuation certificate, prepared with reference to the same rent and lease terms, was material to the inquiry under section 23 and provided prima facie support for the assessee's case that the contract rent exceeded the reasonable rent. In the absence of material showing that relevant factors were omitted, the Tribunal erred in refusing to consider that evidence, and its finding was vitiated. The question was answered in the negative, in favour of the assessee. Case-Laws Income Tax Thu, 07 Jun 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8869