https://www.taxtmi.com/caselaws?id=754869 ITAT Pune ruled in favor of the assessee regarding determination of annual value under section 23(1)(c) for house property income. The property was let out for 15 days but remained vacant for the remaining period of the assessment years. The AO and CIT(A) incorrectly denied that the property was leased out based on suspicion without evidence. ITAT held that section 23(1)(c) applies when property is vacant during whole or any part of the previous year, directing the AO to allow the benefit and amend assessment orders accordingly. en-us Fri, 28 Jun 2024 00:00:00 +0530 Tue, 02 Jul 2024 07:56:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754869 ITAT Pune ruled in favor of the assessee regarding determination of annual value under section 23(1)(c) for house property income. The property was let out for 15 days but remained vacant for the remaining period of the assessment years. The AO and CIT(A) incorrectly denied that the property was leased out based on suspicion without evidence. ITAT held that section 23(1)(c) applies when property is vacant during whole or any part of the previous year, directing the AO to allow the benefit and amend assessment orders accordingly. Case-Laws Income Tax Fri, 28 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754869