Tuesday, January 15, 2019

Benefit of vacancy allowance was available if assessee made appropriate efforts in letting out property: ITAT

IT : Where assessee intended to let out property and took appropriate efforts in letting property, however, due to fall in property prices failed to let out same year after year because of which property remained vacant, assessee was entitled to claim benefit under section 23(1)(c)

from www.taxmann.com Latest Case Laws http://bit.ly/2VSBhju

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...