Property used for business cannot be treated as vacant for section 23

Ideal Hitech Engineering Equipment (P) Ltd. Vs ITO (ITAT Delhi)

We find that the only issue in dispute is relating to addition made on account of the notional rent computed in respect of the property no. 17, Okhla Industrial Estate, Phase – III, New Delhi, 110 020 owned by the assessee company. The contention of the AO is that notional rent needs to be computed in respect of this property considering the same as vacant property. As against this, the contention of the assessee is that the notional rent cannot be computed as

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