Notional Rent cannot be taxed on Non-Habitable House

Shri Basant Kumar Nahata Vs ACIT (ITAT Kolkata) It is noted that a house property was inherited by the assessee in his native village situated at Rajasthan which was duly shown in his Balance Sheet. Since the assessee has residential house at Kolkata, the AO invoked sec. 22 and 23 of the Act, estimated the annual letable value at Rs. 1,20,000/-, i.e. Rs.10,000/- per month. It was brought to our notice that the house in question is an old house, which is in a dilapidated condition and so it is not habitable. Therefore, according to Ld AR, the question of letting out of the property does not ari...