https://www.taxtmi.com/caselaws?id=14817 The High Court affirmed the Tribunal's decision in the case, ruling in favor of the assessee on all issues. The Court upheld that no notional interest income could be assessed, emphasizing the real income principle. It was held that the Commissioner of Income-tax (Administration) had no jurisdiction under section 263 of the Income-tax Act, 1961, and that there was no merger of orders between the Income-tax Officer and the Commissioner of Income-tax (Appeals). The Court supported its decision by referencing relevant case law. en-us Fri, 24 Apr 1998 00:00:00 +0530 Sat, 18 Jul 2009 18:13:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14817 The High Court affirmed the Tribunal's decision in the case, ruling in favor of the assessee on all issues. The Court upheld that no notional interest income could be assessed, emphasizing the real income principle. It was held that the Commissioner of Income-tax (Administration) had no jurisdiction under section 263 of the Income-tax Act, 1961, and that there was no merger of orders between the Income-tax Officer and the Commissioner of Income-tax (Appeals). The Court supported its decision by referencing relevant case law. Case-Laws Income Tax Fri, 24 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14817