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2015 (1) TMI 1104 - AT - Income TaxAnnual Value of the property u/s. 23(l)(a) - Fair rental value - CIT(A)deleted the addition made by Assessing Officer in the annual letting value of the property u/s 23(1)(a) of the Income Tax Act on account of notional interest on interest free deposits received by the assessee - Held that:- Where the Assessing Officer has not conducted any enquiry or investigation and by following the Judgment of Hon'ble Jurisdictional High Court in the case of CIT Vs. Tip Top Typography (2014 (8) TMI 356 - BOMBAY HIGH COURT), we do not find any reason to interfere with the order of CIT(A) qua this issue as AO has not determined the fair market rent of the property as per section 23(1)(a) but he has simply made the addition on account of notional interest to the actual rent received by the assessee. Therefore, the action of Assessing Officer is not sustainable when there is no finding by the Assessing Officer that the actual rent received by the assessee is less than the fair market rental value of the property - Decided in fvaour of assessee.
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