https://www.taxtmi.com/caselaws?id=205950 The Tribunal set aside the CIT(A)'s decision and remanded the case to the AO for fresh consideration. The Tribunal emphasized the need for the AO to determine fair rent under section 23(1)(a) and compare it with actual rent received, clarifying that notional interest cannot be included in actual rent under section 23(1)(b). The revenue's appeals were allowed for statistical purposes, directing a reassessment based on proper determination of fair rent. en-us Fri, 25 Mar 2011 00:00:00 +0530 Mon, 03 Oct 2011 02:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205950 The Tribunal set aside the CIT(A)'s decision and remanded the case to the AO for fresh consideration. The Tribunal emphasized the need for the AO to determine fair rent under section 23(1)(a) and compare it with actual rent received, clarifying that notional interest cannot be included in actual rent under section 23(1)(b). The revenue's appeals were allowed for statistical purposes, directing a reassessment based on proper determination of fair rent. Case-Laws Income Tax Fri, 25 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205950