https://www.taxtmi.com/caselaws?id=117800 Bombay HC dismissed the appeal, upholding the Tribunal's view that the AO could not reckon notional interest on deposits when determining fair market value under s.23(1)(a) because the assessee (a company receiving funds from a partnership) was exempt under s.10(2A) and there was no profit for the relevant year. The Tribunal followed existing HC precedent; on the facts and law the posed question did not arise, and the appeal was consequently dismissed. en-us Thu, 26 Feb 2009 00:00:00 +0530 Thu, 04 Sep 2025 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117800 Bombay HC dismissed the appeal, upholding the Tribunal's view that the AO could not reckon notional interest on deposits when determining fair market value under s.23(1)(a) because the assessee (a company receiving funds from a partnership) was exempt under s.10(2A) and there was no profit for the relevant year. The Tribunal followed existing HC precedent; on the facts and law the posed question did not arise, and the appeal was consequently dismissed. Case-Laws Income Tax Thu, 26 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117800