https://www.taxtmi.com/caselaws?id=277639 The tribunal allowed the appellant's appeal in a case concerning the determination of Annual Letting Value (ALV) of a vacant residential house in New Delhi under the Income Tax Act. The tribunal found that the property's vacancy was due to market conditions, leading to a conclusion that the ALV should be Nil. Relying on judicial precedents and the interpretation of Section 23(1)(c), the tribunal set aside the CIT(A)'s order and determined the ALV of the property as Nil, in favor of the appellant. en-us Wed, 21 Sep 2016 00:00:00 +0530 Sat, 15 Dec 2018 06:38:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277639 The tribunal allowed the appellant's appeal in a case concerning the determination of Annual Letting Value (ALV) of a vacant residential house in New Delhi under the Income Tax Act. The tribunal found that the property's vacancy was due to market conditions, leading to a conclusion that the ALV should be Nil. Relying on judicial precedents and the interpretation of Section 23(1)(c), the tribunal set aside the CIT(A)'s order and determined the ALV of the property as Nil, in favor of the appellant. Case-Laws Income Tax Wed, 21 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277639