4. For the purposes of the Explanation below sub-section
(1) of section 23, the amount of rent which the owner cannot realise shall be
equal to the amount of rent payable but not paid by a tenant of the assessee
and so proved to be lost and irrecoverable where,—
(a)
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the tenancy is bona
fide;
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(b)
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the defaulting tenant has vacated, or steps have been
taken to compel him to vacate the property;
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(c)
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the defaulting tenant is not in occupation of any other
property of the assessee;
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(d)
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the assessee has taken all reasonable steps to institute
legal proceedings for the recovery of the unpaid rent or satisfies the
Assessing Officer that legal proceedings would be useless.]
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