https://www.taxtmi.com/caselaws?id=39648 The court held that for determining the annual value under section 23 of the Income-tax Act, the rent fixed by the Rent Control Act could be considered. The court rejected the department's higher assessments and ruled in favor of the assessee, emphasizing that the fair rent fixed by the Rent Controller should be the basis for determining the annual value in areas covered by Rent Control Acts. The Tribunal's estimation without concrete evidence was deemed erroneous, and the court highlighted the importance of municipal valuation in determining fair rent. en-us Thu, 06 Mar 1975 00:00:00 +0530 Mon, 19 Apr 2010 14:11:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39648 The court held that for determining the annual value under section 23 of the Income-tax Act, the rent fixed by the Rent Control Act could be considered. The court rejected the department's higher assessments and ruled in favor of the assessee, emphasizing that the fair rent fixed by the Rent Controller should be the basis for determining the annual value in areas covered by Rent Control Acts. The Tribunal's estimation without concrete evidence was deemed erroneous, and the court highlighted the importance of municipal valuation in determining fair rent. Case-Laws Income Tax Thu, 06 Mar 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39648