https://www.taxtmi.com/highlights?id=73280 Validity of Reopening of assessment - not charging interest @ 12% on the loans advances - Only because the assessee company did not charge the advance made to the other loans and advances, such Assessing Officer even otherwise could not have made the notional addition on the basis of the income accrued in the regular course of assessment and such on the basis of the principle of real income. - Notice for reopening quashed - HC en-us Tue, 28 Nov 2023 07:42:51 +0530 Tue, 28 Nov 2023 16:15:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=73280 Validity of Reopening of assessment - not charging interest @ 12% on the loans advances - Only because the assessee company did not charge the advance made to the other loans and advances, such Assessing Officer even otherwise could not have made the notional addition on the basis of the income accrued in the regular course of assessment and such on the basis of the principle of real income. - Notice for reopening quashed - HC Highlights Income Tax Tue, 28 Nov 2023 07:42:51 +0530 https://www.taxtmi.com/highlights?id=73280