https://www.taxtmi.com/caselaws?id=118849 The Tribunal partially allowed the appeal, affirming the disallowance of depreciation on the property not let out during the year, as the property was not used for business purposes. However, it permitted the deduction of society charges from the annual letting value, directing the AO to verify the payment, as these charges form part of the rent received. The decision was grounded in the specific facts and applicable legal provisions, ensuring compliance with the Income-tax Act. en-us Wed, 31 Aug 2005 00:00:00 +0530 Thu, 18 Apr 2024 10:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118849 The Tribunal partially allowed the appeal, affirming the disallowance of depreciation on the property not let out during the year, as the property was not used for business purposes. However, it permitted the deduction of society charges from the annual letting value, directing the AO to verify the payment, as these charges form part of the rent received. The decision was grounded in the specific facts and applicable legal provisions, ensuring compliance with the Income-tax Act. Case-Laws Income Tax Wed, 31 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118849