https://www.taxtmi.com/caselaws?id=186596 Income from house property is computed on annual value under sections 22 to 27 of the Income-tax Act, 1961, and that value is the sum for which the property may reasonably be expected to let, even when the owner occupies it and receives no actual rent. The statutory charge therefore does not depend on actual receipt or accrual of rent. Vacancy allowance is available only where the property has been let out and then remained vacant for part of the year; it is not admissible where the property was never let and was occupied by the owner. The commentary states that both propositions favour the Revenue. en-us Tue, 06 Dec 1994 00:00:00 +0530 Fri, 23 Sep 2016 14:29:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186596 Income from house property is computed on annual value under sections 22 to 27 of the Income-tax Act, 1961, and that value is the sum for which the property may reasonably be expected to let, even when the owner occupies it and receives no actual rent. The statutory charge therefore does not depend on actual receipt or accrual of rent. Vacancy allowance is available only where the property has been let out and then remained vacant for part of the year; it is not admissible where the property was never let and was occupied by the owner. The commentary states that both propositions favour the Revenue. Case-Laws Income Tax Tue, 06 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186596