https://www.taxtmi.com/caselaws?id=470346 Notional interest on interest-free advances cannot be assessed without evidence that interest actually accrued, arose, or was earned but remained undisclosed. Where advances yielded no interest and no enquiry or investigation established actual accrual, suspicion based solely on an NBFC making interest-free advances does not support an addition. Applying the real income principle, only income that has genuinely accrued or arisen is taxable; accordingly, the notional interest addition was deleted. en-us Wed, 19 Mar 2025 00:00:00 +0530 Thu, 23 Jul 2026 20:51:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470346 Notional interest on interest-free advances cannot be assessed without evidence that interest actually accrued, arose, or was earned but remained undisclosed. Where advances yielded no interest and no enquiry or investigation established actual accrual, suspicion based solely on an NBFC making interest-free advances does not support an addition. Applying the real income principle, only income that has genuinely accrued or arisen is taxable; accordingly, the notional interest addition was deleted. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470346