https://www.taxtmi.com/caselaws?id=60978 Relief under the second proviso to section 23(1) of the Income-tax Act cannot be denied merely because residential units constructed within the prescribed period are let out for commercial use. The Tribunal reasoned that the provision contains no express restriction requiring actual residential occupation, and its object is to encourage timely investment in residential property. The revenue's reliance on section 23(2) was held inapposite because the issue arose under section 23(1). Accordingly, eligible flats qualified for the deduction and the disallowance was set aside. en-us Wed, 30 Dec 1981 00:00:00 +0530 Mon, 10 Jan 2011 12:21:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60978 Relief under the second proviso to section 23(1) of the Income-tax Act cannot be denied merely because residential units constructed within the prescribed period are let out for commercial use. The Tribunal reasoned that the provision contains no express restriction requiring actual residential occupation, and its object is to encourage timely investment in residential property. The revenue's reliance on section 23(2) was held inapposite because the issue arose under section 23(1). Accordingly, eligible flats qualified for the deduction and the disallowance was set aside. Case-Laws Income Tax Wed, 30 Dec 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60978