Held that evidence furnished proving assessee obtained Loans from banks for acquiring property and property let out and rental income Offered to tax. Assessing Officer is allowed to allow interest paid on borrowings while computing income under head income from house property. Notional Interest on interest-Free Security deposit could not be added to annual letting value of property. (AY.2018-19)
Gurpreet Singh Dhillon v. Asst. CIT (IT) (2023)107 ITR 55 (SN)(Delhi) (Trib)
S. 23 : Income from house property-Annual value-Interest on borrowed to acquire property-Directed to allow deduction-Interest-Free Security Deposit-Notional Interest on interest-Free Security deposit could not be added to annual letting value of property. [S. 22, 24 (a)]