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TMI Blogannual value of not let out propertyX X X X Extracts X X X X X X X X Extracts X X X X ..... What should be the annual value u/s 23 in the event of a property whch is vacant all throughout the current financial year but was let out in the previous financial year? In the case of a new buldin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g for which the owner could not find any tenants since its construction, can the annual value be taken to be nil.? regards anand - Reply By guna ch - The Reply = If the house is vacant for 12 mo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nths then there is no income from house property - Reply By CA. Surender Gupta - The Reply = It is upon the assessee to prove that its intent was to let the property out but could not. Once it is p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roved that the property was vacant and available for rent, assessee is entitled for vacancy allowance. But, if failed to prove the same, no vacancy allowance. See Shri Apoorva Patni, Others Ver ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sus Additional Commissioner of Income Tax Range-2, Pune [2012 (9) TMI 828 - ITAT, PUNE] - annual value of not let out property - Query Started By: - anand menon Dated:- 19-12-2012 Income Tax - Got ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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