https://www.taxtmi.com/caselaws?id=272881 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to determine the annual letting value (ALV) of the property based on municipal valuation as adopted by the municipal authorities. The decision emphasized that in cases of properties not let out, municipal valuation should be the proper yardstick for assessment, in line with relevant legal precedents and provisions such as section 23(1) of the Income Tax Act. en-us Fri, 07 Dec 2012 00:00:00 +0530 Mon, 28 May 2018 13:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272881 The Tribunal allowed the appeal of the assessee, directing the Assessing Officer to determine the annual letting value (ALV) of the property based on municipal valuation as adopted by the municipal authorities. The decision emphasized that in cases of properties not let out, municipal valuation should be the proper yardstick for assessment, in line with relevant legal precedents and provisions such as section 23(1) of the Income Tax Act. Case-Laws Income Tax Fri, 07 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272881