https://www.taxtmi.com/caselaws?id=281575 For premises covered by rent control legislation, municipal rateable value is a safe and rational basis for determining annual letting value under the house property provisions. The Assessing Officer may depart from that value only where cogent and satisfactory material shows that the declared rent is artificially suppressed or otherwise distorted; absent such material, a conjectural higher market rent cannot replace the municipal valuation. The Tribunal applied the same reasoning as in the assessee's earlier year, and the addition based on higher notional rent was not sustainable. en-us Wed, 31 Oct 2018 00:00:00 +0530 Tue, 25 Jun 2019 18:49:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281575 For premises covered by rent control legislation, municipal rateable value is a safe and rational basis for determining annual letting value under the house property provisions. The Assessing Officer may depart from that value only where cogent and satisfactory material shows that the declared rent is artificially suppressed or otherwise distorted; absent such material, a conjectural higher market rent cannot replace the municipal valuation. The Tribunal applied the same reasoning as in the assessee's earlier year, and the addition based on higher notional rent was not sustainable. Case-Laws Income Tax Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281575