https://www.taxtmi.com/caselaws?id=117559 For a tenanted property governed by rent control law, annual value was confined to the standard rent or legally recoverable contractual rent, so a higher deemed value and notional interest on an interest-free deposit could not be added. The note also states that bill-discounting charges were not taxable on accrual where recovery had become genuinely doubtful and legal restraint affected enforcement, because mere book entry did not amount to real income. On that basis, the disputed additions were deleted and the assessee succeeded on the substantial issues discussed. en-us Mon, 02 May 2005 00:00:00 +0530 Mon, 25 Jun 2012 10:10:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117559 For a tenanted property governed by rent control law, annual value was confined to the standard rent or legally recoverable contractual rent, so a higher deemed value and notional interest on an interest-free deposit could not be added. The note also states that bill-discounting charges were not taxable on accrual where recovery had become genuinely doubtful and legal restraint affected enforcement, because mere book entry did not amount to real income. On that basis, the disputed additions were deleted and the assessee succeeded on the substantial issues discussed. Case-Laws Income Tax Mon, 02 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117559