https://www.taxtmi.com/caselaws?id=11305 The court affirmed that the actual rent received by the lessee is relevant for determining the annual value of the property. It emphasized that the amount reasonably expected to be received from letting out the property is a factual determination. The burden of proof lies on the Revenue to establish that the actual rent received is not the assessable value, considering the nature of the lease agreement and relationship between parties. The court relied on legal precedents to determine the annual value based on factual evidence specific to each case, ultimately upholding the Tribunal's decision and dismissing the appeal. en-us Fri, 04 Apr 2003 00:00:00 +0530 Thu, 06 Aug 2009 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11305 The court affirmed that the actual rent received by the lessee is relevant for determining the annual value of the property. It emphasized that the amount reasonably expected to be received from letting out the property is a factual determination. The burden of proof lies on the Revenue to establish that the actual rent received is not the assessable value, considering the nature of the lease agreement and relationship between parties. The court relied on legal precedents to determine the annual value based on factual evidence specific to each case, ultimately upholding the Tribunal's decision and dismissing the appeal. Case-Laws Income Tax Fri, 04 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11305