https://www.taxtmi.com/caselaws?id=365375 The Tribunal ruled in favor of the assessee in a case concerning the deduction under section 23(1)(c) of the Income Tax Act for a vacant property. It emphasized that the intention to let out the property, along with efforts to find a tenant, qualifies for the deduction. The Tribunal found the rejection of the assessee's efforts to let out the property as unreasonable, criticized the evaluation of evidence by the authorities, and overturned the decision of the Commissioner of Income Tax (Appeals) to charge rental income. The Tribunal concluded that the addition of deemed rental income was not justified, ultimately allowing the appeal in favor of the assessee. en-us Fri, 10 Aug 2018 00:00:00 +0530 Thu, 16 Aug 2018 07:53:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365375 The Tribunal ruled in favor of the assessee in a case concerning the deduction under section 23(1)(c) of the Income Tax Act for a vacant property. It emphasized that the intention to let out the property, along with efforts to find a tenant, qualifies for the deduction. The Tribunal found the rejection of the assessee's efforts to let out the property as unreasonable, criticized the evaluation of evidence by the authorities, and overturned the decision of the Commissioner of Income Tax (Appeals) to charge rental income. The Tribunal concluded that the addition of deemed rental income was not justified, ultimately allowing the appeal in favor of the assessee. Case-Laws Income Tax Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365375