ITAT Deletes Rs. 63L Deemed ALV Addition: Real Rent Only Counts

Idhayam Infraheights Pvt. Ltd. Vs DCIT (ITAT Delhi) ₹4 Cr Security Deposit Doesn’t Mean Income: ALV Must Be Real, Not Imagined- Security Deposit Can’t Generate Fictional Rent: Notional Interest ≠ Rent: Delhi ITAT Deletes ₹63L Deemed ALV Addition Assessee challenged additions of ₹34,00,000 & ₹29,12,000 made by AO as notional rent u/s 23(1) on ground that it had received an interest-free security deposit of ₹4 Cr while charging a contractual rent of only ₹5,000 per month. AO & CIT(A) treated the deposit as a colourable device, applied SBI interest rate, & computed d...