https://www.taxtmi.com/caselaws?id=240977 The Tribunal upheld the CIT(A)'s decision to delete the addition to income from house property based on notional interest on an interest-free deposit. The Tribunal ruled in favor of the assessee, stating that the actual rent received was a valid indicator for determining reasonable rent, and notional interest should not be considered in computing the annual value of the property under section 23(1)(a) of the Income Tax Act. The Tribunal cited consistency in previous ITAT decisions and affirmed the CIT(A)'s order, dismissing the Revenue's appeal. en-us Tue, 05 Feb 2013 00:00:00 +0530 Sun, 15 Dec 2013 10:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240977 The Tribunal upheld the CIT(A)'s decision to delete the addition to income from house property based on notional interest on an interest-free deposit. The Tribunal ruled in favor of the assessee, stating that the actual rent received was a valid indicator for determining reasonable rent, and notional interest should not be considered in computing the annual value of the property under section 23(1)(a) of the Income Tax Act. The Tribunal cited consistency in previous ITAT decisions and affirmed the CIT(A)'s order, dismissing the Revenue's appeal. Case-Laws Income Tax Tue, 05 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240977