1994 (12) TMI 337

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....72, at the instance of the assessee, the following two questions have been referred for our consideration : "1. Whether, on the facts and in the circumstances of the case and on true interpretation of section 22 of the Income-tax Act, 1961, the Tribunal was right in holding that what is charged under section 22 is the annual value of the ownership of the property irrespective of the fact whethe....

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....perty is in the direct occupation of the owner or leased to a tenant, the basis to arrive at the income is the same, subject to some variations regarding the deductions. Nowhere a different method is provided to arrive at the annual value of the property when it is under the occupation of the owner. As per section 23(1)(a), the annual value of any property shall be deemed to be the sum for which t....