https://www.taxtmi.com/caselaws?id=242160 The Tribunal dismissed the Revenue's appeals and affirmed the Commissioner of Income-tax (Appeals) decision to delete additions made by the Assessing Officer for notional interest on security deposits. The Tribunal held that the annual value for computing income from house property should be based on actual rent received rather than notional interest on security deposits, in line with previous Tribunal decisions and legal precedents. The Tribunal emphasized that the Municipal valuation and annual value under section 23(1)(a) are equivalent, ultimately ruling in favor of the assessee. en-us Fri, 25 Feb 2011 00:00:00 +0530 Thu, 09 Jan 2014 09:43:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242160 The Tribunal dismissed the Revenue's appeals and affirmed the Commissioner of Income-tax (Appeals) decision to delete additions made by the Assessing Officer for notional interest on security deposits. The Tribunal held that the annual value for computing income from house property should be based on actual rent received rather than notional interest on security deposits, in line with previous Tribunal decisions and legal precedents. The Tribunal emphasized that the Municipal valuation and annual value under section 23(1)(a) are equivalent, ultimately ruling in favor of the assessee. Case-Laws Income Tax Fri, 25 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242160