The assessee owns a property in DLF, Phase-II, Gurgaon against which he has received a security deposit of Rs. 5 ,29,55 ,200/-for leasing the premises. During the year, the no rent has been offered to tax and on enquiry, it was found that the said property has been sold for Rs. 2.75 crores in the year 2013-14, hence no income from rentals has bee offered.However, the assessee continued to hold the security deposit of Rs. 5.29 crores. The Assessing Officer held that since the security deposit is an underlying asset and an interest amount deemed to have derived from such security deposit of Rs. 63 ,54,632/- has been brought to tax under the head “income from other sources”.The ld. CIT (A) confirmed the addition on the grounds that the assessee is benefited by way of having the deposit still lying with him.Aggrieved the assessee filed appeal before the Tribunal.