Assessee eligible for vacancy allowance under section 23(1)(c) for vacant commercial units

Mack Star Marketing Private Limited Vs National Faceless Appeal Centre Delhi (ITAT Mumbai) While scrutinizing the return of income and the details of the immovable property as on 31.03.2012 the Assessing Officer noticed that out of total 45 units of the project, 8 units were sold as on 31.03.2012 26 units are vacant and 11 units are given on leave and licence. The Assessing Officer found that the assessee has not offered any rental income in respect of 26 vacant units. Since the commercial project Kaledonia has been completed during the year under consideration and the assessee has in fact ear...