87 results for “house property”+ Section 194C(6)clear
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In the result, the appeal of the assessee is allowed
Bench: Shri Mahavir Singh & Shri Manish Agarwal
6%. We are of the view that this cannot be the basis for estimating the ALV but it has to be based on some evidence, only then, the Assessing Officer can estimate the fair market value of the rent. Accordingly, in our view, the material was placed before the Assessing Officer declaring the ALV of the property at ₹3.50 lakhs