Bombay High Court Allows Appeal in Property Tax Assessment Dispute — Rateable Value Must Be Based on Actual Rent Received. The court held that under Section 154 of the Mumbai Municipal Corporation Act, 1888, the Rateable Value of a let-out property must be determined on the basis of actual rent received, not hypothetical market rent, where the rent is not collusive or fraudulent.
31 Mar 2006The appellant, Mangaldas N. Verma Charitable Trust, a public charitable trust registered under the Bombay Public Trust Act, 1950, owned a godown in Mu...
