https://www.taxtmi.com/caselaws?id=215494 The appeals filed by the Revenue in the case of two different assessees were dismissed. The issue revolved around the deletion of an addition on the Annual Letting Value for notional interest on interest-free security received by the assesses. The Tribunal held that determining fair rent should not include notional interest on security deposits, emphasizing that rent should be based on what the property could reasonably be expected to let for. The decision to delete the addition was upheld, in line with the provisions of the Income Tax Act. en-us Fri, 23 Mar 2012 00:00:00 +0530 Wed, 08 Aug 2012 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215494 The appeals filed by the Revenue in the case of two different assessees were dismissed. The issue revolved around the deletion of an addition on the Annual Letting Value for notional interest on interest-free security received by the assesses. The Tribunal held that determining fair rent should not include notional interest on security deposits, emphasizing that rent should be based on what the property could reasonably be expected to let for. The decision to delete the addition was upheld, in line with the provisions of the Income Tax Act. Case-Laws Income Tax Fri, 23 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215494