https://www.taxtmi.com/caselaws?id=22031 The Court upheld the Income-tax Officer's calculation of a restricted deduction for vacancy allowance under section 24(1)(ix) based on the annual value of the property, rejecting the Appellate Assistant Commissioner's decision to allow the full deduction. The Tribunal's determination that the deduction should be limited to the annual value relevant to the vacant part of the property was affirmed, emphasizing the definition of "annual value" under section 23(1). The Court clarified that the deduction should be proportionate to the period of property vacancy, supporting the Income-tax Officer's calculation over the assessee's argument for a proportionate deduction based on the gross annual value. en-us Fri, 12 Apr 1991 00:00:00 +0530 Sat, 05 Dec 2009 16:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22031 The Court upheld the Income-tax Officer's calculation of a restricted deduction for vacancy allowance under section 24(1)(ix) based on the annual value of the property, rejecting the Appellate Assistant Commissioner's decision to allow the full deduction. The Tribunal's determination that the deduction should be limited to the annual value relevant to the vacant part of the property was affirmed, emphasizing the definition of "annual value" under section 23(1). The Court clarified that the deduction should be proportionate to the period of property vacancy, supporting the Income-tax Officer's calculation over the assessee's argument for a proportionate deduction based on the gross annual value. Case-Laws Income Tax Fri, 12 Apr 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22031