https://www.taxtmi.com/caselaws?id=406554 The Tribunal upheld the decision of the lower authorities, rejecting the appellant's claim for deduction of notional interest as business loss. The appeal was dismissed on the grounds that the appellant did not fulfill the conditions for claiming bad debts and that the notional interest was not eligible for deduction as business loss under section 28. The Tribunal found the legal precedents cited by the appellant inapplicable to the case and concluded that the claim was not valid based on the presented facts. en-us Mon, 22 Mar 2021 00:00:00 +0530 Sat, 17 Apr 2021 22:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406554 The Tribunal upheld the decision of the lower authorities, rejecting the appellant's claim for deduction of notional interest as business loss. The appeal was dismissed on the grounds that the appellant did not fulfill the conditions for claiming bad debts and that the notional interest was not eligible for deduction as business loss under section 28. The Tribunal found the legal precedents cited by the appellant inapplicable to the case and concluded that the claim was not valid based on the presented facts. Case-Laws Income Tax Mon, 22 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406554