https://www.taxtmi.com/caselaws?id=349014 The case involved appeals by the department against the CIT(A)'s order regarding the taxability of notional Annual Letting Value (ALV) of unsold properties as income from house property for Assessment Years 1988-89 to 1995-96. The Hon'ble Delhi High Court held that ALV of unsold flats is taxable, reversing the CIT(A) and ITAT's decision. The ITAT allowed the department's appeals for statistical purposes, directing a re-examination by the AO in light of the High Court's ruling and the submissions made by the assessee. The case underscored the significance of legal precedents in determining tax liabilities. en-us Fri, 29 Sep 2017 00:00:00 +0530 Thu, 05 Oct 2017 09:44:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=349014 The case involved appeals by the department against the CIT(A)'s order regarding the taxability of notional Annual Letting Value (ALV) of unsold properties as income from house property for Assessment Years 1988-89 to 1995-96. The Hon'ble Delhi High Court held that ALV of unsold flats is taxable, reversing the CIT(A) and ITAT's decision. The ITAT allowed the department's appeals for statistical purposes, directing a re-examination by the AO in light of the High Court's ruling and the submissions made by the assessee. The case underscored the significance of legal precedents in determining tax liabilities. Case-Laws Income Tax Fri, 29 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=349014