2013 (5) TMI 311

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..... rty u/s.23(1)(a), came up for consideration before the Full Bench of the Hon’ble Delhi High Court in CIT vs. Moni Kumar Subba [2011 (3) TMI 497 - DELHI HIGH COURT]. - The Hon’ble Delhi High Court has held that no addition to the annual letting value for notional interest u/s.23(1)(a) is sustainable. - Decided against the revenue. - I.T.A.No.3847/Mum/2008 - - - Dated:- 11-5-2011 - Shri R. S. Sya .....

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..... ding Corporation of India Ltd. It was contended on behalf of these assessees that they were not the owners of the property. The AO, on the basis of certain materials, came to the conclusion that the assessees were deemed owners u/s.27(iiib) of the Act. It was also noted by him that these assessees have received interest free deposit of Rs.4.90 crores shared equally by M/s. S. Sudarshan Co. and M .....

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..... ncludible while calculating annual letting value of the property u/s.23(1)(a), came up for consideration before the Full Bench of the Hon ble Delhi High Court in CIT vs. Moni Kumar Subba (2011) 333 ITR 38 (Del) (SB). The Hon ble Delhi High Court has held that no addition to the annual letting value for notional interest u/s.23(1)(a) is sustainable. In view of this judgment, it is clear that the ac .....

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