M/S FATEH HOMES PRIVATE LIMITED,CHANDIGARH vs. ITO WARD-1(4), CHANDIGARH
In the result, the appeal of the assessee is partly allowed
ITA 53/CHANDI/2020[2013-14]Status: DisposedITAT Chandigarh12 Oct 2021AY 2013-14
For Appellant: Shri Parikshit Aggarwal, CAFor Respondent: Smt.Meenakshi Vohra, Addl. CIT
Section 22Section 23
section 22, the annual value of any property shall be deemed to be— (a) the sum for which the property might reasonably be expected to let from year to year: or……
27.2.1 Thus, aforesaid provisions show how the annual let out value (ALV) is to be determined i.e. the sum for which value of any property might reasonably be expected