Annual Letting Value — The taxes levied by any local authority in respect of the property shall be deducted in determining the annual value of the property of that previous year in which such taxes are actually paid by the assessee — as held by MumTrib in Saif Ali Khan v ACIT — In favour of: The assessee.
Society charges paid by the assessee in respect of the let out property are allowable while computing the annual letting value of the property under s 23.
Decided on: 29 June 2011.
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