https://www.taxtmi.com/caselaws?id=27646 The High Court interpreted section 24(1) of the Income-tax Act, specifically clause (ix), regarding vacancy remission for a building. It clarified that both letting and vacancy must occur within the same year for the remission to apply, citing the 1977 Explanation. The court explained that properties let out in parts can still qualify for remission under clause (ix) if certain conditions are met. In a specific case where only two floors were let out, the court directed the Tribunal to reassess eligibility for vacancy remission based on the nature of the building, without providing a direct answer. Each party was instructed to bear their own costs. en-us Tue, 19 Jun 1984 00:00:00 +0530 Mon, 15 Feb 2010 11:55:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27646 The High Court interpreted section 24(1) of the Income-tax Act, specifically clause (ix), regarding vacancy remission for a building. It clarified that both letting and vacancy must occur within the same year for the remission to apply, citing the 1977 Explanation. The court explained that properties let out in parts can still qualify for remission under clause (ix) if certain conditions are met. In a specific case where only two floors were let out, the court directed the Tribunal to reassess eligibility for vacancy remission based on the nature of the building, without providing a direct answer. Each party was instructed to bear their own costs. Case-Laws Income Tax Tue, 19 Jun 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27646