https://www.taxtmi.com/caselaws?id=252446 The Court ruled in favor of the assessee, holding that notional interest on security deposits should not be considered for determining the annual letting value under the Income Tax Act, 1961. The decision was based on legal precedents, leading to the dismissal of the appeals without awarding costs, as they did not raise any substantial question of law. The Court's analysis focused on the interpretation of relevant sections of the Act, specifically addressing the inclusion of notional interest income from security deposits and advance rent in the income from property. en-us Thu, 04 Sep 2014 00:00:00 +0530 Wed, 22 Oct 2014 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252446 The Court ruled in favor of the assessee, holding that notional interest on security deposits should not be considered for determining the annual letting value under the Income Tax Act, 1961. The decision was based on legal precedents, leading to the dismissal of the appeals without awarding costs, as they did not raise any substantial question of law. The Court's analysis focused on the interpretation of relevant sections of the Act, specifically addressing the inclusion of notional interest income from security deposits and advance rent in the income from property. Case-Laws Income Tax Thu, 04 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252446