Income Tax on Rental Income on Notional Basis not Applicable If Assessee could not find a Tenant for Relevant AY: ITAT [Read Order]

Income Tax - Rental Income - Tenant - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Chennai held that Income Tax on Rental Income on a Notional Basis is not Applicable If Assessee could not find a Tenant for a Relevant Assessment Year. The assessee, M/s. Asfa Technologies & BPO Pvt Ltd did not carry on any business during the previous year relevant to the…

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