https://www.taxtmi.com/caselaws?id=313898 ITAT Delhi upheld CIT(A)'s decision denying vacancy allowance under Section 23(1)(c) for property that remained vacant throughout the year, ruling that benefit is unavailable if property was never let out. Regarding seizure of cash and jewellery during search operations, ITAT partially allowed appellant's appeal, reducing unexplained jewellery from 2528 gms to 740 gms after allowing 200 gms per family member and excluding parents' jewellery wrongly attributed to assessee, considering appellant's income of Rs. 4.5 crores for AY 2013-14. en-us Tue, 24 Sep 2019 00:00:00 +0530 Tue, 07 May 2024 23:06:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313898 ITAT Delhi upheld CIT(A)'s decision denying vacancy allowance under Section 23(1)(c) for property that remained vacant throughout the year, ruling that benefit is unavailable if property was never let out. Regarding seizure of cash and jewellery during search operations, ITAT partially allowed appellant's appeal, reducing unexplained jewellery from 2528 gms to 740 gms after allowing 200 gms per family member and excluding parents' jewellery wrongly attributed to assessee, considering appellant's income of Rs. 4.5 crores for AY 2013-14. Case-Laws Income Tax Tue, 24 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313898