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 depos

Please become a Premium member. If you are already a Premium member, login here to access the full content.