https://www.taxtmi.com/caselaws?id=196232 Annual letting value of let-out property cannot be enhanced on conjecture or an unverified inspector's report when actual rent and, where appropriate, municipal valuation provide reliable benchmarks; on those facts, the addition was deleted. Disallowance under section 14A read with Rule 8D must be computed on net interest expenditure after set-off of interest income and by following the consistent proportionate allocation method adopted in the earlier year; that methodology was upheld as corrected by the appellate authority. The relief granted to the assessee on house property valuation and the sustained Rule 8D computation remained undisturbed, and the cross appeals were dismissed. en-us Wed, 20 Jul 2016 00:00:00 +0530 Thu, 23 Nov 2017 11:28:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196232 Annual letting value of let-out property cannot be enhanced on conjecture or an unverified inspector's report when actual rent and, where appropriate, municipal valuation provide reliable benchmarks; on those facts, the addition was deleted. Disallowance under section 14A read with Rule 8D must be computed on net interest expenditure after set-off of interest income and by following the consistent proportionate allocation method adopted in the earlier year; that methodology was upheld as corrected by the appellate authority. The relief granted to the assessee on house property valuation and the sustained Rule 8D computation remained undisturbed, and the cross appeals were dismissed. Case-Laws Income Tax Wed, 20 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196232