https://www.taxtmi.com/caselaws?id=400102 The Tribunal ruled in favor of the appellant, directing the deletion of the addition of notional interest income. It found that the accrual concept of accounting did not justify the inclusion of notional interest, considering the factual circumstances and the provisions of Accounting Standard-9 (AS-9). The Tribunal highlighted the ongoing legal issues and low prospects of recovery, supporting the appellant's decision not to recognize the interest income. The appeal was allowed, and the notional interest charge was removed by the AO/CIT(A) in the order pronounced on 20.08.2020. en-us Thu, 20 Aug 2020 00:00:00 +0530 Wed, 03 Mar 2021 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400102 The Tribunal ruled in favor of the appellant, directing the deletion of the addition of notional interest income. It found that the accrual concept of accounting did not justify the inclusion of notional interest, considering the factual circumstances and the provisions of Accounting Standard-9 (AS-9). The Tribunal highlighted the ongoing legal issues and low prospects of recovery, supporting the appellant's decision not to recognize the interest income. The appeal was allowed, and the notional interest charge was removed by the AO/CIT(A) in the order pronounced on 20.08.2020. Case-Laws Income Tax Thu, 20 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400102