The assessee owned a property which was leased out to a company. After expiry of the lease, the property remained vacant, and assessee claimed deduction of vacancy allowance under section 23(1)(c). Assessing Officer rejected the claim and determined the annual letting value (ALV) of the property on a notional basis.  CIT A) affirmed the order of the Assessing Officer. On appeal, the Tribunal held that  ALV should be determined based on municipal ratable value (MRV) and restored the matter to the Assessing Officer for determination of ALV as per guidelines laid down by the High Court in the case of CIT v. Tip Top Typography (2014) 228 Taxman 244 /368 ITR 330 (Bom)(HC). However, the Assessing Officer determined ALV relying upon the rent fixed in the earlier expired lease deed. Since the Assessing Officer had not made any enquiry to ascertain the MRV of property during the relevant assessment years and had determined ALV simply relying upon an earlier expired lease deed, the matter was to be restored back to the Assessing Officer for determining ALV of property strictly in terms of the guidelines framed by the High Court in Tip Top Typography (supra). Matter remanded. AY. 2012-13, 2014-15, 2017-18, 2018-19)