https://www.taxtmi.com/caselaws?id=757949 The ITAT Delhi held that no addition for notional interest on an alleged HSBC Geneva bank account could be made against the assessee. The seized document only mentioned the assessee's son's name, not the assessee or his wife. The lower authorities had relied on earlier year orders for making the addition, but the Tribunal had previously deleted similar additions for notional interest income in prior years. Consequently, the Tribunal allowed the assessee's grounds and deleted the addition for the year under consideration. en-us Wed, 14 Feb 2024 00:00:00 +0530 Thu, 05 Sep 2024 07:49:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757949 The ITAT Delhi held that no addition for notional interest on an alleged HSBC Geneva bank account could be made against the assessee. The seized document only mentioned the assessee's son's name, not the assessee or his wife. The lower authorities had relied on earlier year orders for making the addition, but the Tribunal had previously deleted similar additions for notional interest income in prior years. Consequently, the Tribunal allowed the assessee's grounds and deleted the addition for the year under consideration. Case-Laws Income Tax Wed, 14 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757949