In the result, all the appeals of the revenue, cross objections of the assessee are dismissed and appeals filed by the assessee are allowed
Bench: Shrisandeepgosain & Shriarunkhodpia
house is not taxable u/s 23(4)(b) . Without prejudice to our above submission, the Ld. AO has grossly erred in estimating the annual letting value (ALV) of flat. The AO on the basis of monthly rent of Rs 7,91,805/- received by the appellant from commercial property in Prestige Obelisk, Bangalore estimated the monthly rent of Flat