AO Misinterprets Section 23(1)(a), Overestimates Property Value; Applicable Only for Vacant Properties, Not Let-Out Ones.

AO Misinterprets Section 23(1)(a), Overestimates Property Value; Applicable Only for Vacant Properties, Not Let-Out Ones. https://www.taxtmi.com/highlights?id=26793 Estimation of income from house property - AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1)(a) was called for only in case of vacant property and not where the property was actually let out since in the case of let out property, the assessee was not entitled to anything over and above the agreed rent - AT en-us Tue, 05 Jan 2016 22:38:40 +0530 Tue, 05 Jan 2016 22:38:40 +0530 TaxTMI RSS Generator AO Misinterprets Section 23(1)(a), Overestimates Property Value; Applicable Only for Vacant Properties, Not Let-Out Ones. https://www.taxtmi.com/highlights?id=26793 Estimation of income from house property - AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1)(a) was called for only in case of vacant property and not where the property was actually let out since in the case of let out property, the assessee was not entitled to anything over and above the agreed rent - AT Highlights Income Tax Tue, 05 Jan 2016 22:38:40 +0530 https://www.taxtmi.com/highlights?id=26793