NOTIONAL INTEREST ON INTT FREE DEPOSIT IS TAXABLE OR NOT

Last updated: 13 October 2010

Court :
DELHI HIGH COURT

Brief :
The assessee had received interest free deposit in respect of shops given on rent. The Assessing Officer added to the assessee’s income notional interest on the interest free deposit at the rate of 18 per cent simple interest per annum .

Citation :
CIT v. Asian Hotels Ltd. (2010) 323 ITR 0490 (Del.)

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