Income from House Property - In case the property is not let out ...

Vacancy Allowance Not Applicable for Non-Let Properties u/s 23(1)(c) of the Income Tax Act.

June 3, 2012

Case Laws Income Tax AT

Income from House Property - In case the property is not let out at all during the previous year, no vacancy allowance can be given u/s 23(1)(c). - AT

View Source

← Previous Next →

Income from House Property - In case the property is not let out ...

Vacancy Allowance Not Applicable for Non-Let Properties u/s 23(1)(c) of the Income Tax Act.

June 3, 2012

Case Laws Income Tax AT

You may also like:

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...

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...

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...

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...

The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

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...

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...

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...

Notional rental income on commercial property u/s 23(1)(a) - notional rental income on unsold stock u/s 23(1)(a) - There being impossibility of renting out the property,...

The High Court held that by virtue of the non-obstante clause in the Kerala General Sales Tax Act, 1963 (KGST Act), it creates a first charge on the property of 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...

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...

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...

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)

Income from vacant house property - income would not be assessed under Section 23(1)(c) but under Section 23(1)(a). - HC

Quick Updates: