https://www.taxtmi.com/caselaws?id=24613 For computing annual value under sections 22 and 23 of the Income-tax Act, 1961, the decisive factor is the rent receivable from the property, not the amount actually received by the assessee. The High Court also upheld the Tribunal's finding that the leases in favour of Peekay Management were not genuine, rejecting the challenge that the finding was perverse or based on non-consideration of material. On those findings, Peekay Management was not treated as the owner for section 22 and 23 purposes, and the assessee remained the relevant owner. en-us Mon, 13 Jun 1988 00:00:00 +0530 Thu, 21 Jan 2010 12:24:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24613 For computing annual value under sections 22 and 23 of the Income-tax Act, 1961, the decisive factor is the rent receivable from the property, not the amount actually received by the assessee. The High Court also upheld the Tribunal's finding that the leases in favour of Peekay Management were not genuine, rejecting the challenge that the finding was perverse or based on non-consideration of material. On those findings, Peekay Management was not treated as the owner for section 22 and 23 purposes, and the assessee remained the relevant owner. Case-Laws Income Tax Mon, 13 Jun 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24613