2022 (6) TMI 1143

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....and seizure operation was conducted u/s 132 of the Income Tax Act, 1961 in the AKN group of cases during which the premises of the assessee was also covered. Accordingly, the proceeding u/s 153A were initiated and a notice u/s 153A of the Act was issued requiring the appellant to furnish the true and correct return of income. In response thereto, the returns of income were filed u/s 153A for the different assessment years. 4. The cases were selected for scrutiny and statutory notices were issued and served. The assessments were complete u/s 153A/143(3) vide orders dated 23.03.2018 by the AO at the following incomes for the assessment years under consideration: AY Returned Income Total Additions Income assessed 2011-12 R....

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....97,209/- (i.e. enhancement of 10% from the annual value determined for the earlier assessment year) per year u/s 23(1)(a) of the Act. The is also not entitled to avail vacancy allowance u/s 23(1)(c) of the I.T. Act as it has never been let out. Thus, Income from other house property is computed as below: Annual value of the property (as discussed Above) Rs.15,97,200/- Less: deduction 24(a) Rs.4,79,160/- Income from House property Rs.11,18,040/- 6. During the appellate proceedings before the Ld.CIT(A), the Id. AR filed the following written submission: "2. That the assessee along with his family started living in that property thereafter and the same was occupied till the year 1999. Because this house p....

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....t and the actual rent received or receivable by the owner in respect thereof is in excess of the sum referred to in clause (a), the amount so received or receivable; or (c) where the property or any part of the property is let and was vacant during the whole or any part, of the previous year and owing to such vacancy the actual rent received or receivable by the owner in respect thereof is less than the sum referred to in clause (a), the amount so received or receivable: 9. We are not in agreement with the arguments of the ld. AR on the issue of benefit of 23(1)(c) were not being allowed where property was vacant met vacancy in actual rent receivable shout have been taken as Nil. In that case, sub- Section (a) would be applicabl....