2017 (4) TMI 671 - SCH - Income Tax

Income from house property - annual value of any property - Held that - HC order confirmed 2016 (12) TMI 1298 - PUNJAB AND HARYANA HIGH COURT Annual value of the properties like the ones in the case in hand which are more than one, owned by the assessee and which admittedly remained vacant throughout the previous year would not be assessed under Section 23(1)(c) but under Section 23(1)(a). The annual value would, therefore, be determined notionally as done in the case in hand by the Assessing Officer and concurrently upheld by the Commissioner and the Tribunal. Question of law answered in favour of the Revenue.

Summary

The Supreme Court dismissed the petition as it found no merit in it. The special leave petition was accordingly dismissed, and any pending application was disposed of.