https://www.taxtmi.com/caselaws?id=15864 The court ruled in favor of the Revenue, holding that the Appellate Tribunal erred in accepting the annual letting value declared by the assessee for consecutive assessment years. The court emphasized that the annual letting value should increase over time unless valid reasons are provided for a decreasing trend. As the assessee failed to demonstrate such reasons, the court upheld the Assessing Officer's approach of maintaining the value declared for the initial assessment year. The court found the Tribunal's consideration of irrelevant material and its inference to be against the proper appreciation of evidence, ultimately ruling against the assessee. en-us Mon, 16 Nov 1998 00:00:00 +0530 Sat, 29 Aug 2009 15:55:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15864 The court ruled in favor of the Revenue, holding that the Appellate Tribunal erred in accepting the annual letting value declared by the assessee for consecutive assessment years. The court emphasized that the annual letting value should increase over time unless valid reasons are provided for a decreasing trend. As the assessee failed to demonstrate such reasons, the court upheld the Assessing Officer's approach of maintaining the value declared for the initial assessment year. The court found the Tribunal's consideration of irrelevant material and its inference to be against the proper appreciation of evidence, ultimately ruling against the assessee. Case-Laws Income Tax Mon, 16 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15864