Annual value of house property cannot be determined on ad-hoc basis when rent realized by assessee in subsequent years is on record

Pavel Garg Vs ACIT (ITAT Delhi)

Annual value of house property cannot be determined on ad-hoc basis when rent realized by assessee in subsequent years is on record

ITAT finds that the AO has computed 10% of the value of investments in house property whereas the ld. CIT(A) reduced the amount to 5% of the value of investments. Both decisions are on ad-hoc basis. The rent realized by the assessee in the subsequent years is on record with all the evidences. Hence, we deem it p

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