https://www.taxtmi.com/caselaws?id=15587 Annual value under section 23(1)(a) of the Income-tax Act, 1961 is determined by the sum for which the property may reasonably be expected to let from year to year, and the lease rent agreed between the parties is not conclusive for that purpose. The Kerala HC held that the agreed rent did not control the statutory measure of annual value, and the question was answered in the negative, in favour of the Revenue and against the assessees. The remaining controversy was not pressed. en-us Wed, 04 Mar 1998 00:00:00 +0530 Wed, 26 Aug 2009 11:44:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15587 Annual value under section 23(1)(a) of the Income-tax Act, 1961 is determined by the sum for which the property may reasonably be expected to let from year to year, and the lease rent agreed between the parties is not conclusive for that purpose. The Kerala HC held that the agreed rent did not control the statutory measure of annual value, and the question was answered in the negative, in favour of the Revenue and against the assessees. The remaining controversy was not pressed. Case-Laws Income Tax Wed, 04 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15587