https://www.taxtmi.com/caselaws?id=196236 The Tribunal dismissed the Revenue's appeals challenging the Annual Letting Value (ALV) determination by Municipal authorities for assessment years 2008-09 & 2009-10. Upholding the ALV based on Municipal ratable value, the Tribunal aligned with previous decisions and High Court rulings, emphasizing the accepted valuation method for vacant premises. The Tribunal rejected new materials indicating a higher ALV, citing the need for concrete evidence to challenge prevailing rates. In both cases, the Tribunal supported the CIT(A)'s orders and rejected the Revenue's appeals, emphasizing legal precedents and factual analysis in favor of the assessee. en-us Wed, 20 Jan 2016 00:00:00 +0530 Thu, 23 Nov 2017 11:28:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196236 The Tribunal dismissed the Revenue's appeals challenging the Annual Letting Value (ALV) determination by Municipal authorities for assessment years 2008-09 & 2009-10. Upholding the ALV based on Municipal ratable value, the Tribunal aligned with previous decisions and High Court rulings, emphasizing the accepted valuation method for vacant premises. The Tribunal rejected new materials indicating a higher ALV, citing the need for concrete evidence to challenge prevailing rates. In both cases, the Tribunal supported the CIT(A)'s orders and rejected the Revenue's appeals, emphasizing legal precedents and factual analysis in favor of the assessee. Case-Laws Income Tax Wed, 20 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196236