https://www.taxtmi.com/caselaws?id=330344 The Tribunal partially allowed the appeal, modifying the Annual Letting Value (ALV) determination for the property at Dande Towers in Nashik. It held that the ALV should be nil for the property that remained vacant throughout the year, contrary to the Assessing Officer's decision. The Tribunal interpreted section 23(1)(c) of the Income Tax Act, 1961, stating that if efforts were made to let the property but were unsuccessful, the ALV should be zero. The appellant's claim for nil ALV due to vacancy was supported by the property's rental history in a prior year. en-us Thu, 31 Mar 2016 00:00:00 +0530 Tue, 06 Feb 2018 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330344 The Tribunal partially allowed the appeal, modifying the Annual Letting Value (ALV) determination for the property at Dande Towers in Nashik. It held that the ALV should be nil for the property that remained vacant throughout the year, contrary to the Assessing Officer's decision. The Tribunal interpreted section 23(1)(c) of the Income Tax Act, 1961, stating that if efforts were made to let the property but were unsuccessful, the ALV should be zero. The appellant's claim for nil ALV due to vacancy was supported by the property's rental history in a prior year. Case-Laws Income Tax Thu, 31 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330344