Section 34(1) in The Calcutta Metropolitan Water And Sanitation Authority Act, 1966
(1)For the purpose of assessment of tax under clauses (c) and (d) of sub-section (1) section 33, the annual value shall be, -(a)in respect of any land or building lying within the jurisdiction of a municipal corporation or municipality, the annual value as assessed by or for such corporation or municipality and prevailing for the time being, and(b)in respect of any other land or building, the gross annual rent at which the land or building might at the time of assessment be reasonably expected to let from year to year, less, in the case of a building, an allowance of ten per cent, for the cost of repairs and for all other expenses necessary to maintain the building in a state to command such gross rent.
