Allowing the appeal of the assessee the Tribunal held that, when property of assessee had remained let out for a period of 36 months, and thereafter could not be let out and had remained vacant during whole of year under consideration, but had never remained under self-occupation of assessee, ‘annual value’ of said property was to be computed at nil by taking recourse to section 23(1)(c) of the Act. ( AY.2011-12, 2012013))
Sonu Realtors (P.) Ltd. v. DCIT (2018) 173 ITD 82 (Mum) (Trib.)
S. 23 : Income from house property – Annual value -Vacancy allowance- When property had remained let out for a period of 36 months, and thereafter could not be let out and had remained vacant during whole of year under consideration, but had never remained under self-occupation of assessee, ‘annual value’ of said property was to computed at nil. [S. 23(1)(a), 23(1)(c)]