https://www.taxtmi.com/caselaws?id=470686 Notional interest cannot be assessed merely because an assessee withdraws funds advanced to an HUF and invests them in immovable property instead of continuing an interest-bearing deployment. The assessee may determine how to use own funds, including investment in property or other purposes. An Assessing Officer cannot substitute a presumed interest-earning use for the actual investment decision or tax income that was never earned. The proposed addition of notional interest income was therefore described as unsustainable and deleted. en-us Wed, 26 Mar 2025 00:00:00 +0530 Tue, 04 Aug 2026 20:51:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470686 Notional interest cannot be assessed merely because an assessee withdraws funds advanced to an HUF and invests them in immovable property instead of continuing an interest-bearing deployment. The assessee may determine how to use own funds, including investment in property or other purposes. An Assessing Officer cannot substitute a presumed interest-earning use for the actual investment decision or tax income that was never earned. The proposed addition of notional interest income was therefore described as unsustainable and deleted. Case-Laws Income Tax Wed, 26 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470686