https://www.taxtmi.com/caselaws?id=76591 The court dismissed the Revenue's appeals and upheld the Tribunal's decision regarding the taxability of notional interest on interest-free deposits related to property let out on rent. It clarified that notional interest does not fall under section 28(iv) of the Income-tax Act, pertaining to business income, or section 23(1)(a) concerning income from house property. The judgment emphasized interpreting tax statutes literally and rejected the Revenue's arguments, stating no substantial question of law arose. en-us Mon, 10 Dec 2007 00:00:00 +0530 Wed, 11 May 2016 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76591 The court dismissed the Revenue's appeals and upheld the Tribunal's decision regarding the taxability of notional interest on interest-free deposits related to property let out on rent. It clarified that notional interest does not fall under section 28(iv) of the Income-tax Act, pertaining to business income, or section 23(1)(a) concerning income from house property. The judgment emphasized interpreting tax statutes literally and rejected the Revenue's arguments, stating no substantial question of law arose. Case-Laws Income Tax Mon, 10 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76591