Tejal Kaushal Shah (Smt.) v. ITO (2025) 212 ITD 397 (Mum)(Trib.)

S. 23 : Income from house property-Annual value-Office premises-ALV to be determined on municipal rentable value-Matter remanded [S. 22]

The assessee owned an office premises. The AO computed deemed ALV based on market rates from a property website, rejecting the claim that it was used for business purposes by the assessee and her husband. The Tribunal held that ALV should be based on municipal rentable value, not market estimations. Since this was not considered by the AO, the issue was remanded for fresh determination. (AY. 2012-13)

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