https://www.taxtmi.com/caselaws?id=67551 The Tribunal determined the annual letting value of the property at Rs. 1,96,581, rejecting the deduction claimed for damages recovered by FCI. The Tribunal held that the damages were an application of income, not a permissible deduction under section 24. Alternative claims for vacancy allowance and unrealized rent were also denied. The Assessing Officer's computation of income was upheld, setting aside the CIT(A)'s decision. The revenue's appeal was allowed. en-us Tue, 21 May 1996 00:00:00 +0530 Fri, 11 Mar 2011 12:29:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67551 The Tribunal determined the annual letting value of the property at Rs. 1,96,581, rejecting the deduction claimed for damages recovered by FCI. The Tribunal held that the damages were an application of income, not a permissible deduction under section 24. Alternative claims for vacancy allowance and unrealized rent were also denied. The Assessing Officer's computation of income was upheld, setting aside the CIT(A)'s decision. The revenue's appeal was allowed. Case-Laws Income Tax Tue, 21 May 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67551