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 9th 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 assessee. The Assessing Officer has not disputed this fact that the property in question was mor...