Assessing Officer Cannot Add Notional Interest to Concluded Assessments Without Incriminating Evidence.

Assessing Officer Cannot Add Notional Interest to Concluded Assessments Without Incriminating Evidence. https://www.taxtmi.com/highlights?id=34141 A.O. has no jurisdiction to make additions in respect of concluded assessments in the absence of any incriminating materials. Hence, we direct the A.O. to delete additions towards notional interest on interest free advances given to sister concerns - AT en-us Tue, 04 Apr 2017 11:33:21 +0530 Tue, 04 Apr 2017 11:33:21 +0530 TaxTMI RSS Generator Assessing Officer Cannot Add Notional Interest to Concluded Assessments Without Incriminating Evidence. https://www.taxtmi.com/highlights?id=34141 A.O. has no jurisdiction to make additions in respect of concluded assessments in the absence of any incriminating materials. Hence, we direct the A.O. to delete additions towards notional interest on interest free advances given to sister concerns - AT Highlights Income Tax Tue, 04 Apr 2017 11:33:21 +0530 https://www.taxtmi.com/highlights?id=34141