https://www.taxtmi.com/caselaws?id=62086 The Appellate Tribunal ITAT Cochin ruled in a dispute over vacancy allowance under section 24(1)(ix) of the Income Tax Act for properties vacant throughout the year. The Tribunal held that the vacancy allowance should apply even if the property remained vacant for the entire year, rejecting the Department's argument that it only applied if the property was vacant for part of the year. The Tribunal emphasized that the legislative intent did not support depriving the allowance based on a narrow interpretation, leading to the dismissal of the appeals and affirming the assessee's entitlement to the vacancy allowance. en-us Thu, 29 Apr 1976 00:00:00 +0530 Tue, 18 Jan 2011 10:37:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62086 The Appellate Tribunal ITAT Cochin ruled in a dispute over vacancy allowance under section 24(1)(ix) of the Income Tax Act for properties vacant throughout the year. The Tribunal held that the vacancy allowance should apply even if the property remained vacant for the entire year, rejecting the Department's argument that it only applied if the property was vacant for part of the year. The Tribunal emphasized that the legislative intent did not support depriving the allowance based on a narrow interpretation, leading to the dismissal of the appeals and affirming the assessee's entitlement to the vacancy allowance. Case-Laws Income Tax Thu, 29 Apr 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62086