https://www.taxtmi.com/caselaws?id=426333 The tribunal ruled in favor of the appellant in a case concerning the computation of annual property value under Section 23(1)(c) of the Income Tax Act, 1961. Despite the property being vacant during the assessment year, the tribunal considered the property's previous letting history and the appellant's efforts to find tenants, concluding that the annual value should be assessed under Section 23(1)(c) rather than Section 23(1)(a). The tribunal found discrepancies in the assessment by the Assessing Officer and directed the deletion of the addition made towards income from the property, ultimately allowing the appeal on 29th July 2022. en-us Fri, 29 Jul 2022 00:00:00 +0530 Fri, 12 Aug 2022 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426333 The tribunal ruled in favor of the appellant in a case concerning the computation of annual property value under Section 23(1)(c) of the Income Tax Act, 1961. Despite the property being vacant during the assessment year, the tribunal considered the property's previous letting history and the appellant's efforts to find tenants, concluding that the annual value should be assessed under Section 23(1)(c) rather than Section 23(1)(a). The tribunal found discrepancies in the assessment by the Assessing Officer and directed the deletion of the addition made towards income from the property, ultimately allowing the appeal on 29th July 2022. Case-Laws Income Tax Fri, 29 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426333