https://www.taxtmi.com/caselaws?id=59114 The tribunal determined that the Income Tax Officer (ITO) should independently ascertain the annual letting value under Section 23(1)(a) of the Income-tax Act, 1961, rather than solely relying on the municipal rateable value. The property was assessed to reasonably let at Rs. 12,000 annually, considering various factors. Both the Appellate Assistant Commissioner (AAC) and the ITO were found to have miscalculated the property income. The appeal was partially allowed, adjusting the property income assessment based on the revised annual letting value of Rs. 12,000. en-us Thu, 20 Sep 1984 00:00:00 +0530 Sat, 25 Dec 2010 11:19:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59114 The tribunal determined that the Income Tax Officer (ITO) should independently ascertain the annual letting value under Section 23(1)(a) of the Income-tax Act, 1961, rather than solely relying on the municipal rateable value. The property was assessed to reasonably let at Rs. 12,000 annually, considering various factors. Both the Appellate Assistant Commissioner (AAC) and the ITO were found to have miscalculated the property income. The appeal was partially allowed, adjusting the property income assessment based on the revised annual letting value of Rs. 12,000. Case-Laws Income Tax Thu, 20 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59114