CA Sachin Agarwal
(Chartered Accountant B.com (Accounting Hons))
(831 Points)
Replied 30 May 2018
No, It will not be treated
Tina Jain
(CA)
(250 Points)
Replied 30 May 2018
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 30 May 2018
The Pune Income-tax Appellate Tribunal (the Tribunal), in the taxpayer’s case, held that under section 23(1)(c) of the Income-tax Act, 1961 (Act), annual letting value (ALV) of a property that was vacant during the entire year was to be taken as Nil if the taxpayer intended to, and had taken appropriate efforts to, let the property out.
CA Naveen Chand
(Chartered Accountant)
(12734 Points)
Replied 30 May 2018
not treated as house property
Jeeva Thangavelu
(Student CA Final )
(609 Points)
Replied 30 May 2018
It doesnt matter how many properties you own other than the said property. Based on above case, if the assessee had tried to let the property but still it was not occupied its ALV is zero..
PF & ESI Course - Labour Code 2019 Along with Examples and Case Studies
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