In the case of Sachin R. Tendulkar vs. DCIT, ITAT Mumbai has held that:
The words ‘property is let’ does not mean ‘property actually let out’. If property is held with an intention to let out in the relevant year coupled with efforts made for letting it out, it could be said that such a property is a let out property and the same would fall within the purview of section 23(1)(c) and be eligible for vacancy allowance. A reasonable approach should be taken on the assesse’s attempts to let out and infallible proof should not be demanded.
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