https://www.taxtmi.com/caselaws?id=190265 The Tribunal allowed the assessee's appeal, setting aside the CIT(A)'s decision and deleting the addition made by the AO. Relying on precedent, the Tribunal determined that if a property intended for letting out remains vacant, the annual value can be considered nil under sec. 23(1)(c) of the Income Tax Act. The Tribunal's decision favored the assessee, concluding that efforts to let out the property indicated its potential rental value. en-us Wed, 21 Mar 2012 00:00:00 +0530 Fri, 10 Feb 2017 10:36:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190265 The Tribunal allowed the assessee's appeal, setting aside the CIT(A)'s decision and deleting the addition made by the AO. Relying on precedent, the Tribunal determined that if a property intended for letting out remains vacant, the annual value can be considered nil under sec. 23(1)(c) of the Income Tax Act. The Tribunal's decision favored the assessee, concluding that efforts to let out the property indicated its potential rental value. Case-Laws Income Tax Wed, 21 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190265