High Court Upholds Use of Section 23(1)(b) for Estimating Annual Property Value for Tax on Director Rentals.

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....Income from house property - Annual value estimation u/s 23 - Property was rent out the company by its directs at lower rent and rent out to others at higher rate - since the annual value of the building which was let out was to be estimated, the estimation could be done applying Section 23(1)(b), which precisely was what was done by the Assessing Office - HC....