Entire ALV Cannot Be Assessed on Partially Let Out Property: ITAT Delhi

Asha Burman Vs ACIT (ITAT Delhi)

AO Directed to Compute ALV Only for Let-Out Portion, Not Entire Self-Occupied Property- ITAT Delhi Remands

Assessee, an elderly individual residing at New Delhi, challenged the determination of Annual Letting Value (ALV) of her house property. AO had assessed the entire property’s ALV at ₹1.79 crore, holding that the whole premises were let out to M/s Gyan Enterprises Pvt. Ltd., a related concern, instead of only the third floor as claimed. The addition was based

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