https://www.taxtmi.com/caselaws?id=184284 Under section 23(1)(b), only actual rent received or receivable can be taken into account, and notional interest on a refundable interest-free security deposit cannot be added to annual rent. A refundable deposit does not itself form part of rent, and any benefit from its use arises only on utilisation and, if taxable at all, at that stage under the appropriate charging provision. Treating estimated interest as rent would import a notional element into a provision concerned with actual rent and could lead to double taxation. The assessee therefore succeeded, and the addition was unsustainable. en-us Fri, 30 Jul 1999 00:00:00 +0530 Mon, 04 Jul 2016 17:09:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184284 Under section 23(1)(b), only actual rent received or receivable can be taken into account, and notional interest on a refundable interest-free security deposit cannot be added to annual rent. A refundable deposit does not itself form part of rent, and any benefit from its use arises only on utilisation and, if taxable at all, at that stage under the appropriate charging provision. Treating estimated interest as rent would import a notional element into a provision concerned with actual rent and could lead to double taxation. The assessee therefore succeeded, and the addition was unsustainable. Case-Laws Income Tax Fri, 30 Jul 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184284