https://www.taxtmi.com/caselaws?id=26120 The High Court upheld the Income-tax Appellate Tribunal's decision on the annual letting value of a property in Madras. The Court found the municipal valuation of Rs. 9,828, which considered property improvements, to be more reasonable than the Income-tax Officer's valuation of Rs. 36,000 based on investments made. As the property was not rented out but used for personal residence, the Court agreed that the municipal valuation was relevant in determining the letting value. Consequently, the Court dismissed the Revenue's petitions as no legal question arose from the Tribunal's order. en-us Mon, 21 Nov 1983 00:00:00 +0530 Mon, 22 Aug 2016 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26120 The High Court upheld the Income-tax Appellate Tribunal's decision on the annual letting value of a property in Madras. The Court found the municipal valuation of Rs. 9,828, which considered property improvements, to be more reasonable than the Income-tax Officer's valuation of Rs. 36,000 based on investments made. As the property was not rented out but used for personal residence, the Court agreed that the municipal valuation was relevant in determining the letting value. Consequently, the Court dismissed the Revenue's petitions as no legal question arose from the Tribunal's order. Case-Laws Income Tax Mon, 21 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26120