https://www.taxtmi.com/caselaws?id=14566 The HC held that for purposes of section 23(1)(b) of the Income-tax Act the annual value is the actual/receivable rent and does not include notional interest on an interest-free deposit; where actual rent exceeds fair rent the actual rent constitutes annual value. The Tribunal's finding that the actual rent exceeded fair rent was upheld and the appeal dismissed. The court left open whether notional interest might be relevant in determining fair rent under section 23(1)(a). en-us Mon, 05 Jun 2000 00:00:00 +0530 Tue, 07 Oct 2025 12:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14566 The HC held that for purposes of section 23(1)(b) of the Income-tax Act the annual value is the actual/receivable rent and does not include notional interest on an interest-free deposit; where actual rent exceeds fair rent the actual rent constitutes annual value. The Tribunal's finding that the actual rent exceeded fair rent was upheld and the appeal dismissed. The court left open whether notional interest might be relevant in determining fair rent under section 23(1)(a). Case-Laws Income Tax Mon, 05 Jun 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14566