Tribunal held that though the Municipal valuation can be a pointer for fetching reasonable rental value for a given property but in determining reasonable rental value, a multiplication factor derived from one set of data for another property located in different locality, though in same city, cannot be applied blindly , Matter remanded.( AY.2008 -09)
ACIT v. Kamini Sundararam. (Smt.) (2018) 168 ITD 513 (Chennai) (Trib.)
S. 23 : Income from house property – Annual value – Municipal valuation can be a pointer for fetching reasonable rental value, however multiplication factor derived for another property located in different locality, though in same city, cannot be applied blindly.[ S. 22,24 ]