https://www.taxtmi.com/caselaws?id=276010 A fiscal exemption for irrecoverable house-property rent was construed strictly and limited to the specified yearly relief for income assessed under the head of property. The Punjab & Haryana HC noted that the notification did not create any express right to accumulate or carry forward an unabsorbed balance, and that such a right could not be implied where the text confined relief to one year's rent. The Court also treated the existence of express carry-forward provisions elsewhere in the Act as confirming that carry-forward relief must be stated clearly. Accordingly, excess irrecoverable rent could not be set off in later years. en-us Wed, 31 Jul 1963 00:00:00 +0530 Thu, 25 Oct 2018 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276010 A fiscal exemption for irrecoverable house-property rent was construed strictly and limited to the specified yearly relief for income assessed under the head of property. The Punjab & Haryana HC noted that the notification did not create any express right to accumulate or carry forward an unabsorbed balance, and that such a right could not be implied where the text confined relief to one year's rent. The Court also treated the existence of express carry-forward provisions elsewhere in the Act as confirming that carry-forward relief must be stated clearly. Accordingly, excess irrecoverable rent could not be set off in later years. Case-Laws Income Tax Wed, 31 Jul 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276010