https://www.taxtmi.com/caselaws?id=776858 HC dismissed the assessee's challenge and upheld the concurrent findings of the AO, CIT(A) and ITAT that the annual value under s.23 was correctly fixed at Rs.22,00,000. The court rejected reliance on developer/society letters and municipal rateable value as unproven, held the concept of standard rent inapplicable, and found the AO entitled to assess market-fetched rent. The sizable interest-free security deposit was treated as real consideration supporting a higher annual value. No perversity found in the AO's independent valuation; matter decided against the assessee. en-us Mon, 18 Aug 2025 00:00:00 +0530 Wed, 20 Aug 2025 08:34:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776858 HC dismissed the assessee's challenge and upheld the concurrent findings of the AO, CIT(A) and ITAT that the annual value under s.23 was correctly fixed at Rs.22,00,000. The court rejected reliance on developer/society letters and municipal rateable value as unproven, held the concept of standard rent inapplicable, and found the AO entitled to assess market-fetched rent. The sizable interest-free security deposit was treated as real consideration supporting a higher annual value. No perversity found in the AO's independent valuation; matter decided against the assessee. Case-Laws Income Tax Mon, 18 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776858