Income from house property - ALV determination - these are the ...

Case Laws Income Tax

November 23, 2021

Income from house property - ALV determination - these are the guiding factors for determining the annual rental value of the property and any deviation from the same is to be based on evidence showing that it is wrong. We find the entire exercise of the Revenue Authorities in the present case for determining the annual ALV of the property as being arbitrary. No reason has been given for adopting the fair rent determined by the valuer as against the municipal valuation or of the standard rent of the property, which has not even been determined in the present case. - AT

View Source

← Previous Next →

Income from house property - ALV determination - these are the ...

Case Laws Income Tax

November 23, 2021

You may also like:

Income from house property - ALV u/s 23(1)(a) - In determining the reasonable rent, several factors have to be taken into consideration, such as, location of the...

Annual value determination - Estimating the value of the house property - assessee should be granted vacancy allowance.

Chargeability of notional interest on deposits under Income from House Property - ALV determination - CIT(A) has rightly concluded that estimation of ALV on the basis of...

Determination of Income from house property - Suppression of rental income - We could appreciate the case of the AO, if he has made reference to the rent deed of...

Nature of income - Assessing u/s 22 of the Act the ALV of the flats/shops held by it as stock-in-trade of its business as that of a developer under the head “House...

Income from house property - ALV determination - AO has though adopted the rate of rent as it was agreed upon between the parties in respect of property in the vicinity...

Rectification u/s 154 - Deduction claimed u/s. 80IAB - Wrong classification of income under the head ‘income from house property’, has resulted in wrong claim of...

Assessment of Income from House Property - ALV determination - The Tribunal dismissed the assessee's appeal and upheld the ITD's order. The Tribunal directed the...

The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

Income from house property - determination of ALV - if property not let out then AO cannot determine the ALV by applying the market rate but he can do so only on the...

Rental income earned by assessee should be assessed as income from house property, not business income. AO failed to highlight aspects indicating rental income was...

Income from house property - consider the Ambey Valley property as self-occupied property - determination of annual value - CIT(A) has upheld that the 7% of cost of...

Income from house property - ALV of property - amounts received under the maintenance agreement - There are certain services provided by the assessee which are common...

Income from house property - Determining the ALV of flats disclosed in the stock in trade as per the Accounting standards and policies being fallowed consistently by the...

The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

Quick Updates: