{"id":13255,"date":"2020-10-25T13:26:54","date_gmt":"2020-10-25T13:26:54","guid":{"rendered":"https:\/\/itatonline.org\/digest\/harvansh-chawla-v-acit-2020-bcaj-july-p-47-delhi-trib\/"},"modified":"2020-10-25T13:26:54","modified_gmt":"2020-10-25T13:26:54","slug":"harvansh-chawla-v-acit-2020-bcaj-july-p-47-delhi-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/harvansh-chawla-v-acit-2020-bcaj-july-p-47-delhi-trib\/","title":{"rendered":"Harvansh Chawla v ACIT ( 2020) BCAJ-July -P. 47 ( Delhi ) (Trib)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that, notional interest on security deposit from lessee\u00a0 cannot be taxed\u00a0 even during the period when the property was sold but the deposit continued with the lessee as the lease agreement had lock -in -clause . Tribunal held that in order to tax any amount , the revenue has to prove that the amount has indeed earned by the assessee.\u00a0 Only the\u00a0 incomes which fall under the deemed provisions which have been explicitly mentioned in the act can be brought to tax under the deeming provisions but not any other notional or hypothetical income not envisaged by the Act.\u00a0\u00a0\u00a0 ( ITA No. 300\/ Delhi\/ 2020 dt 3-6 -2020 ) (AY. 2017 -18)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.56: Income from other sources \u2013 Notional interest on security deposit from lessee-   Cannot be taxed <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-13255","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3rN","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=13255"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13255\/revisions"}],"predecessor-version":[{"id":13256,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/13255\/revisions\/13256"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=13255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=13255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=13255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}