Income Tax Act, 1967.

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Repayment of tax in respect of lost rent.

29.—(1) If any landlord or immediate lessor of any property charged to tax under Schedule A has paid the same and proves to the satisfaction of the Special Commissioners, that the rent, or any part thereof, due or payable to him in respect of that property, for the period for which that tax was charged, has been wholly and irrecoverably lost by reason of—

(a) the bankruptcy, insolvency, or absconding of the tenant or occupier by whom such rent was payable; or

(b) the fraudulent assignment or removal of his goods by the said tenant or occupier; or

(c) the property being left waste and unoccupied,

he shall be entitled to be repaid such proportion of the said tax as he shall have paid in respect of the rent so lost; and the Special Commissioners shall issue an order for repayment, in like manner as in other cases of repayment.

(2) Any such claim for repayment shall be made within one year after the expiration of the year of assessment.