TMI Blog2014 (10) TMI 580X X X X Extracts X X X X X X X X Extracts X X X X ..... erest on security deposits cannot be taken into consideration for determining and computing the annual letting value, is to be decided against the revenue - Relying upon Commissioner of Income Tax V/s. J.K. Investors (Bombay) Ltd. [2000 (6) TMI 9 - BOMBAY High Court] – no substantial question of law arises for consideration – Decided against revenue. - Income Tax Appeal No. 576 of 2012, Income Ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tax Act, 1961 ? 2. When these matters were placed before us earlier and both the parties had requested that since we were to render a judgment in a batch of appeals raising identical issue, that it was decided to await the same. Now that decision has been rendered, but the present appeals are placed for directions as Mr.Mistri, learned senior counsel for the assessee submitted that the quest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ould earn interest and, therefore, such notional interest could be taken into consideration for the above computation is correct or not. 4. Placing reliance upon the Division Bench of this Court in the case of Commissioner of Income Tax V/s. J.K. Investors (Bombay) Ltd. reported in [2001] 248 ITR 723,which has been stated to be confirmed by the Hon'ble Supreme Court, Mr.Mistry urged that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... avour of the assessee and for that we rely not only on the Division Bench judgment in the case of J.K.Investors (Bombay) Ltd. (supra) but the judgment delivered by this Court, to which one of us [S.C.Dharmadhikari, J.] was a party in the case of Commissioner of Income Tax-12, Mumbai V/s. Tip Top Typography [Income Tax Appeal No.1213 of 2011] and other connected appeals pronounced on 8th August, 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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