Punjab & Haryana H.C : The Revenue has not made any effort to show that the standard rent determinable under the Rent Act is more than the actual rent received by the assessee even when the property in question does not fall within the ambit of the Rent Control Act as the leased out asset includes plant and machinery as well

High Court Of Punjab & Haryana CIT vs. K. Streetlite Electric Corpn Assessment Year : 1995-1996 Section : 22 Adarsh Kumar Goel And Ajay Kumar Mittal, JJ. IT Appeal Nos. 65 And 238 Of 2004 October 27, 2010 JUDGMENT Ajay Kumar Mittal, J. – This order will dispose of two appeals, namely, Income-tax Appeals Nos….

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