https://www.taxtmi.com/caselaws?id=18580 Income from house property under section 22 and the pre-amendment section 23(1) is to be assessed on the annual value a property might reasonably be expected to fetch. Where the property is governed by rent control law, that ceiling is the standard rent determinable under the statute, even if it has not been formally fixed, because the landlord cannot reasonably expect more. The 1975 amendment to section 23 changed the position only for later periods by making actual rent relevant where it exceeds the expected annual value. For assessment year 1972-73, the annual value was therefore confined to standard rent under the applicable rent control law. en-us Wed, 24 Jan 1996 00:00:00 +0530 Thu, 01 Oct 2009 18:08:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18580 Income from house property under section 22 and the pre-amendment section 23(1) is to be assessed on the annual value a property might reasonably be expected to fetch. Where the property is governed by rent control law, that ceiling is the standard rent determinable under the statute, even if it has not been formally fixed, because the landlord cannot reasonably expect more. The 1975 amendment to section 23 changed the position only for later periods by making actual rent relevant where it exceeds the expected annual value. For assessment year 1972-73, the annual value was therefore confined to standard rent under the applicable rent control law. Case-Laws Income Tax Wed, 24 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18580