1 5.ITXAL.1245,1246&1247-11 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION [1] INCOME TAX APPEAL [L] NO.1245 OF 2011 The Commissioner of Income Tax-19. ..Appellant. Vs. Ms.Krishna N. Bhojwani. ..Respondent. WITH [2] INCOME TAX APPEAL [L] NO.1246 OF 2011 The Commissioner of Income Tax-19. ..Appellant. Vs. Ms.Krishna N. Bhojwani. ..Respondent. WITH [3] INCOME TAX APPEAL [L] NO.1247 OF 2011 The Commissioner of Income Tax-19. ..Appellant. Vs. Ms.Krishna N. Bhojwani. ..Respondent. .... Mr. N.A. Kazi, for the Appellant. Mr. J.D. Mistri, Senior Counsel i/b. Atul K. Jasani, for the Respondent. .... CORAM : J. P. DEVADHAR & A.R. JOSHI, JJ. DATED : 30 th NOVEMBER, 2011. P.C. 1. Whether the notional interest income on the security deposit / advance rent is liable to be included in the income from house property for 2 5.ITXAL.1245,1246&1247-11 the purpose of Section 23(1)(a) of the Income Tax Act, 1961, is the question raised in these Appeals. 2. The finding of fact recorded by the CIT(A) and upheld by the ITAT in these Appeals is that the actual rent received by the assessee far exceeds the Municipal ratable value and, therefore, the annual value of the property needs to be computed under section 23(1)(b) of the Income Tax Act, 1961. This Court in the case of Commissioner of Income Tax Vs. J.K. Investors (Bombay) Ltd., reported in 248 ITR 723 has held that while computing the annual value under Section 23(1)(b) of the Income Tax Act, 1961 the notional interest on the security deposit / advance rent cannot be included in the income from house property under section 23(1)(b) of the Income Tax Act. 3. The SLP filed by the Revenue being S.L.P. (Civil) No.5480 of 2001 against the decision of this Court in the case of J.K. Investors (supra) has been dismissed by the Apex Court on 1st November, 2002. 4. In these circumstances, we see no reason to entertain these Appeals. Accordingly, all the three Appeals are dismissed. (A. R. JOSHI, J.) (J. P. DEVADHAR,J.)