https://www.taxtmi.com/highlights?id=73129 Estimation of notional interest income for making the disallowance out of interest expenditure - The ld. AO ought to have not over emphasized about the conduct of the assessee for not charging the interest. It is just a normal business incident and in the absence of any interest income, according to the assessee, the notional interest income cannot be estimated for making the disallowance out of interest expenditure. We allow this ground of appeal and delete the addition. - AT en-us Tue, 21 Nov 2023 08:32:11 +0530 Tue, 21 Nov 2023 08:32:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73129 Estimation of notional interest income for making the disallowance out of interest expenditure - The ld. AO ought to have not over emphasized about the conduct of the assessee for not charging the interest. It is just a normal business incident and in the absence of any interest income, according to the assessee, the notional interest income cannot be estimated for making the disallowance out of interest expenditure. We allow this ground of appeal and delete the addition. - AT Highlights Income Tax Tue, 21 Nov 2023 08:32:11 +0530 https://www.taxtmi.com/highlights?id=73129