https://www.taxtmi.com/caselaws?id=14442 The court upheld the Assessing Officer's additions to the broom and rapeseed oil accounts, reducing the amounts added. It found discrepancies in the books of account and unexplained variations in stock values. Regarding the disallowance of part of the interest on borrowings, the court ruled in favor of the assessee, stating that notional interest cannot be added to income if not actually collected. Question No. 1 was answered against the assessee, while Question No. 2 was decided in favor of the assessee. en-us Tue, 26 Sep 2000 00:00:00 +0530 Wed, 15 Jul 2009 18:30:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14442 The court upheld the Assessing Officer's additions to the broom and rapeseed oil accounts, reducing the amounts added. It found discrepancies in the books of account and unexplained variations in stock values. Regarding the disallowance of part of the interest on borrowings, the court ruled in favor of the assessee, stating that notional interest cannot be added to income if not actually collected. Question No. 1 was answered against the assessee, while Question No. 2 was decided in favor of the assessee. Case-Laws Income Tax Tue, 26 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14442