https://www.taxtmi.com/caselaws?id=17535 Actual rent received by the assessee was treated as the fair basis for determining annual letting value because it ordinarily reflects what a landlord can reasonably expect to receive, unless inflated or depressed by extraneous considerations. Where rent control legislation applies, fair rent must be ascertained in accordance with that framework, not by municipal valuation alone. As the record did not show that the municipal valuation was fixed under the Tamil Nadu Buildings (Lease and Rent Control) Act, 1960, and there was no evidence that the rent received was affected by any special relationship or other extraneous factor, the actual rent was rightly accepted for annual letting value. en-us Thu, 22 Aug 1996 00:00:00 +0530 Wed, 23 Sep 2009 11:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17535 Actual rent received by the assessee was treated as the fair basis for determining annual letting value because it ordinarily reflects what a landlord can reasonably expect to receive, unless inflated or depressed by extraneous considerations. Where rent control legislation applies, fair rent must be ascertained in accordance with that framework, not by municipal valuation alone. As the record did not show that the municipal valuation was fixed under the Tamil Nadu Buildings (Lease and Rent Control) Act, 1960, and there was no evidence that the rent received was affected by any special relationship or other extraneous factor, the actual rent was rightly accepted for annual letting value. Case-Laws Income Tax Thu, 22 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17535