https://www.taxtmi.com/caselaws?id=60648 The Tribunal ruled in favor of the assessee, holding that the deposits made to landlords, although adjustable against future rents, were refundable and did not constitute 'advance rent' under section 194-I of the Income-tax Act. The Tribunal emphasized the absence of a specific provision declaring the deposits as advance rent for a fixed period. As a result, the Tribunal reversed the lower authorities' decisions, allowing the assessee's appeal and deleting the levies imposed under sections 201(1) and 201(1A). en-us Wed, 22 Dec 1999 00:00:00 +0530 Fri, 07 Jan 2011 13:38:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60648 The Tribunal ruled in favor of the assessee, holding that the deposits made to landlords, although adjustable against future rents, were refundable and did not constitute 'advance rent' under section 194-I of the Income-tax Act. The Tribunal emphasized the absence of a specific provision declaring the deposits as advance rent for a fixed period. As a result, the Tribunal reversed the lower authorities' decisions, allowing the assessee's appeal and deleting the levies imposed under sections 201(1) and 201(1A). Case-Laws Income Tax Wed, 22 Dec 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60648