Right to Receive Interest without reasonable certainty of Realization cannot be taxed

DCIT Vs. M/s Harshvardhan land Ltd. (ITAT Jaipur)

Assessee has entered into lease agreement with M/s R.L. Verma & Sons (HUF) dated 19.08.2009 whereby the assessee claimed to have taken on lease the property ad measuring 3650 sq. ft at 9^th floor, Dr. Gopal Das Bhawan, Barakhamba Road, New Delhi. The parties have also entered into a loan agreement in respect of a sum of Rs. 4,50,00,000/- paid by the assessee to the lessor being security deposit on which an interest @ 2.92% P.M. was payable to the

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