High Court deletes 2% interest addition on advances; Section 144 inapplicable due to assessment u/s 143(3) of Income Tax Act. https://www.taxtmi.com/highlights?id=22853 Addition on account of interest @ 2% on advances - Section 144 does not at all apply to the present proceedings because the present proceedings originate from an assessment under Section 143(3) of the said Act. The addition on account of a notional income on advances is deleted - HC en-us Thu, 07 May 2015 08:54:51 +0530 Thu, 07 May 2015 08:54:51 +0530 TaxTMI RSS Generator High Court deletes 2% interest addition on advances; Section 144 inapplicable due to assessment u/s 143(3) of Income Tax Act. https://www.taxtmi.com/highlights?id=22853 Addition on account of interest @ 2% on advances - Section 144 does not at all apply to the present proceedings because the present proceedings originate from an assessment under Section 143(3) of the said Act. The addition on account of a notional income on advances is deleted - HC Highlights Income Tax Thu, 07 May 2015 08:54:51 +0530 https://www.taxtmi.com/highlights?id=22853