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2011 (11) TMI 512 - AT - Income TaxNotional rent charged on property deemed to be let out - Revenue contended it to be separate flats and deemed one flat to be let out - Held that: Assessee, who is the owner of flat No. 601 and 602 at Gaurav Plaza has occupied both the flats as a single unit for the purpose of residence of his family members and both the flats are self occupied having only one common entrance and common kitchen. Even the Ward inspector in his report had also submitted that the assessee had made alteration after obtaining the flats and there is only one entrance for both the flats therefore no notional rent can be brought to tax - Decided in favor of the assessee Dis-allowance of 30% of rent received for table space provided in office - assessee showed it under head 'income from other sources' - Held that:- Rent agreement in the instant case appears to have not been examined by the lower authorities which is vital before coming to any conclusion - matter restored to file of AO - Appeal of assessee allowed for statistical purpose Interest paid to bank for the loan taken for flat No. 601/602 towards construction - disallowance on non furnishing of evidence to show that the interest on loan has been utilized for the purpose of said premises - Held that:- The assessee is not consistent in her stand. At one point she says the interest has to be deducted from the rental income and at another claims the loan has been utilized for the residential accommodation. Therefor the matter is restored back to the file of the A.O. - Decided in favor of the assessee by way of remand.
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