https://www.taxtmi.com/caselaws?id=771202 Section 23 requires annual letting value to be determined by reference to the rent a property might reasonably fetch, not by a percentage of investment cost. The note states that the assessing authority's investment-based formula was applied without the necessary enquiry into expected rental value and without allowing vacancy relief, and that the appellate record also contained computational errors. On that basis, the addition under house property income was treated as unsustainable in full and was restricted to a lump-sum estimate, with the balance deleted. en-us Fri, 28 Mar 2025 00:00:00 +0530 Thu, 22 May 2025 08:21:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771202 Section 23 requires annual letting value to be determined by reference to the rent a property might reasonably fetch, not by a percentage of investment cost. The note states that the assessing authority's investment-based formula was applied without the necessary enquiry into expected rental value and without allowing vacancy relief, and that the appellate record also contained computational errors. On that basis, the addition under house property income was treated as unsustainable in full and was restricted to a lump-sum estimate, with the balance deleted. Case-Laws Income Tax Fri, 28 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771202