https://www.taxtmi.com/caselaws?id=768553 ITAT Delhi held that additions made for cessation of liability under section 41(1) and disallowance of transmission charges exceeded the scope of limited scrutiny and were deleted as they violated CBDT instructions and HC/SC decisions. The tribunal allowed these grounds on technical issues without examining merits. Regarding notional interest income on 9% compulsorily convertible debentures, while this fell within limited scrutiny parameters, the tribunal deleted the addition citing the investment was from own funds, interest waiver was a bona fide commercial decision, and following precedent that notional interest income lacks specific statutory provision for taxation. en-us Tue, 31 Dec 2024 00:00:00 +0530 Wed, 09 Apr 2025 07:42:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768553 ITAT Delhi held that additions made for cessation of liability under section 41(1) and disallowance of transmission charges exceeded the scope of limited scrutiny and were deleted as they violated CBDT instructions and HC/SC decisions. The tribunal allowed these grounds on technical issues without examining merits. Regarding notional interest income on 9% compulsorily convertible debentures, while this fell within limited scrutiny parameters, the tribunal deleted the addition citing the investment was from own funds, interest waiver was a bona fide commercial decision, and following precedent that notional interest income lacks specific statutory provision for taxation. Case-Laws Income Tax Tue, 31 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768553