Notional Income cannot be added for property lying vacant due to Act of Government

DCIT Vs M/s. Turner Morrison Limited, (ITAT Kolkata) The addition of Rs.80,39,178/- on account of deemed rental income from the building at Qutub Institutional area as made by the Assessing Officer was challenged by the assessee in the appeal filed before the ld. CIT(Appeals) and after considering the submissions made by the assessee as well as the material available on record, the ld. CIT(Appeals) deleted the same for the following reasons given in paragraph no. 21 of his impugned order:- “21. I have carefully considered the observations of the Assessing Officer in the assessment order, and...