https://www.taxtmi.com/caselaws?id=431055 The Tribunal upheld the CIT(A)'s decision regarding the addition of Annual Lettable Value (ALV) as income from house property for Assessment Years 2013-14 and 2014-15, stating that properties remaining vacant despite efforts could avail benefits under section 23(1)(c). However, in the matter of disallowance of interest expenditure, the Tribunal found the CIT(A) had not adequately established the nexus between interest-bearing loans and interest income, leading to the restoration of the issue for further inquiry. The Department's appeals were partly allowed for statistical purposes in both assessment years. en-us Thu, 10 Nov 2022 00:00:00 +0530 Mon, 05 Dec 2022 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431055 The Tribunal upheld the CIT(A)'s decision regarding the addition of Annual Lettable Value (ALV) as income from house property for Assessment Years 2013-14 and 2014-15, stating that properties remaining vacant despite efforts could avail benefits under section 23(1)(c). However, in the matter of disallowance of interest expenditure, the Tribunal found the CIT(A) had not adequately established the nexus between interest-bearing loans and interest income, leading to the restoration of the issue for further inquiry. The Department's appeals were partly allowed for statistical purposes in both assessment years. Case-Laws Income Tax Thu, 10 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431055