No Income Tax Addition on Notional Income Until Amount is Received by Assessee; Future Taxation Possible.

No Income Tax Addition on Notional Income Until Amount is Received by Assessee; Future Taxation Possible. https://www.taxtmi.com/highlights?id=16428 Accrual of interest - assessee has not received any amount till date. - No benefit has been received, so no addition can be made on the notional income. However, the department is always at liberty to charge tax as and when the amount will be received by the assessee - HC en-us Wed, 18 Dec 2013 10:40:42 +0530 Wed, 18 Dec 2013 10:40:42 +0530 TaxTMI RSS Generator No Income Tax Addition on Notional Income Until Amount is Received by Assessee; Future Taxation Possible. https://www.taxtmi.com/highlights?id=16428 Accrual of interest - assessee has not received any amount till date. - No benefit has been received, so no addition can be made on the notional income. However, the department is always at liberty to charge tax as and when the amount will be received by the assessee - HC Highlights Income Tax Wed, 18 Dec 2013 10:40:42 +0530 https://www.taxtmi.com/highlights?id=16428