https://www.taxtmi.com/caselaws?id=197468 The Tribunal upheld the CIT(A)'s decision, ruling that notional interest on interest-free deposits should not be added to the rent received for determining the annual value under section 23(1)(a) of the Income Tax Act. The Tribunal emphasized that the annual value should be based on municipal valuation and not on notional interest, citing various judicial precedents. The revenue's appeal was dismissed, affirming the CIT(A)'s order. en-us Fri, 26 Nov 2010 00:00:00 +0530 Mon, 08 Jan 2018 11:02:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197468 The Tribunal upheld the CIT(A)'s decision, ruling that notional interest on interest-free deposits should not be added to the rent received for determining the annual value under section 23(1)(a) of the Income Tax Act. The Tribunal emphasized that the annual value should be based on municipal valuation and not on notional interest, citing various judicial precedents. The revenue's appeal was dismissed, affirming the CIT(A)'s order. Case-Laws Income Tax Fri, 26 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197468