Charge to income tax in respect of a house property - deemed ...

Clarification on "Let" in Income Tax Act: Sections 23(1)(b) & 23(1)(c) Require Actual Letting, Not Intent.

September 23, 2016

Case Laws Income Tax AT

Charge to income tax in respect of a house property - deemed income - The words “where the property is let” in sections 23(1)(b) and 23(1)(c), thus, represents a state of actual letting and cannot be extended to a state of ‘intended letting’. ‘Letting’, it may be appreciated, is a culmination of ‘intended letting’, so that the Act stipulates a maturity/completion of the intention to let. The words “actually let” in section 23(3) have no bearing at all in the matter. - AT

View Source

← Previous Next →

Charge to income tax in respect of a house property - deemed ...

Clarification on "Let" in Income Tax Act: Sections 23(1)(b) & 23(1)(c) Require Actual Letting, Not Intent.

September 23, 2016

Case Laws Income Tax AT

You may also like:

Income from House property - Vacancy can only follow a state of actual letting, envisaged u/ss. 23(1)(b)/(c). Reduction due to vacancy u/s. 23(1)(c) would accordingly...

Income from house property - deduction (Vacancy allowance) - Notably the words used in section 23(1)(c) of the Act are “the property is let and was vacant during the...

Income from house property - notional rental income - no efforts were made by the Assessing Officer to determine the monthly rental/rate at which the Leased Property...

While calculating annual value of the let out property, maintenance charges paid to the society by the assessee is admissible deduction from the annual let out value u/s 23(1)(b)

House property income - Vacancy allowance - property is let under clause (c) of section 23(1) does not mean that the property should have been actually let in the...

The ITAT ruled in favor of the appellant regarding vacant commercial mall units, determining their annual let-out value as "Nil" under section 23(1)(c). The Tribunal...

Scope of income from house property u/s 23(1)(a) - The notional interest on security deposits cannot be taken into consideration for determining and computing the...

Addition on account of house rent - Income from house property - The AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1...

Income from house property - deemed rental income - notional annual value (NAV) u/s 23(1)(a) - without allowing a reasonable period or time gap from the completion of...

Income from house property - Deduction u/s 23(1) - Annual mixed use charges paid by the assessee to Municipal Corporation - The said charges is in the nature of...

Estimation of income from house property - AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1)(a) was called for only in...

Nature of income earned by the assessee from letting out of property - undoubtedly the main objects of the assessee company provides to carrying on the business of...

Annual Letting Value (ALV) - rented property - no addition to the ALV can be made on account of notional interest on interest free deposit with the landlord u/s.23(1)(a) - AT

The ITAT held that the property was actually leased out during the relevant period, rejecting the AO/CIT(A)'s view based on suspicion. The law requires evidence, not...

Annual Let Out value of the property - The property has not been let out at all, during the previous year under consideration, there is no question of any vacancy...

Quick Updates: