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2022 (2) TMI 1054 - ITAT DELHIIncome from house property - Annual value determination - addition of Deemed Rent of house properties lying vacant for whole of the year - deemed annual value @ 5% of value of investment in house property was calculated by ld. CIT(A) - Rejection of assessee contention that properties were not let in past years and letting in future years does not entitle the assessee to relief granted in section 23(1)(c) - HELD THAT:- We find that the AO has computed 10% of the value of investments in house property whereas the ld. CIT(A) reduced the amount to 5% of the value of investments. Both decisions are on ad-hoc basis. The rent realized by the assessee in the subsequent years is on record with all the evidences. Hence, we deem it proper to refer the matter back to the file of the AO to compute the income from house property as per the municipal value in accordance with the provisions of Section 23(1) of the Income Tax Act, 1961. Appeal of the assessee is allowed for statistical purpose.
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