No deemed rent u/s 23(1)(a) if actual rent received or receivable is less than ALV

ACIT Vs Sh. A. S. Motiwala (ITAT Mumbai) Conclusion: Where the property or any part of the property is let and was vacant during the whole or part of the previous year and owing to such vacancy, the actual rent received or receivable is less than ALV, the sum so received or receivable during the year is less than the sum received or receivable during year shall be annual value, then no deemed rent could be assessed. Held: AO made additions made on account of ‘deemed rent’ on the reason that the said premises were vacant during whole of the year and not let out at all during the year, hence...