https://www.taxtmi.com/caselaws?id=768226 ITAT Mumbai held that vacant commercial mall units should have annual value determined as "Nil" under section 23(1)(c). The assessee demonstrated genuine efforts to let out the property, with units being occupied in subsequent years, proving intent to rent. Since actual rent received was nil due to vacancy throughout the year, and comparing this with section 23(1)(a) provisions, the annual value was correctly computed as nil. The AO's addition was deleted and the assessee's appeal was allowed. en-us Fri, 21 Mar 2025 00:00:00 +0530 Thu, 03 Apr 2025 07:50:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768226 ITAT Mumbai held that vacant commercial mall units should have annual value determined as "Nil" under section 23(1)(c). The assessee demonstrated genuine efforts to let out the property, with units being occupied in subsequent years, proving intent to rent. Since actual rent received was nil due to vacancy throughout the year, and comparing this with section 23(1)(a) provisions, the annual value was correctly computed as nil. The AO's addition was deleted and the assessee's appeal was allowed. Case-Laws Income Tax Fri, 21 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768226