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Case Law Details

Case Name : CIT Vs Vijay Singh (ITAT Delhi)
Appeal Number : (ITA No. 214/2008)(2010-TIOL-284-HC-DEL-IT)
Date of Judgement/Order :
Related Assessment Year :
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The High Court of Delhi has ruled that notional interest on security deposit provided against a lease agreement cannot be taxed as perquisite in the hands of the employee.

Facts

Mr. Vijay Singh (“respondent”) was the Managing

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One Comment

  1. Vivek Tripathi says:

    I have got House Security Deposit loan Rs100000/- in Nov, 2015 from my company and given to landlord. This was interest free loan. Company has added Rs 5395.87/- as an interest in my Form 16 for FY 2015-2016 that is taxable. Is it feasible as I am returning Rs 8333/- per month from salary from Nov 2015 onwards?

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