Friday, 23 January 2015

No addition of notional interest on receipt of interest-free deposit by lessor without determining f

IT: Even though the interest-free deposits received by lessor had the effect to deflate or inflate the rent agreed between the parties but AO could not make addition of notional interest in annual value of property without finding out the effect of interest free deposits and without determining the fair market rent expected to be fetched by the property under section 23(1)(a)


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