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High Court deletes 2% interest addition on advances; Section 144 inapplicable due to assessment u/s 143(3) of Income Tax Act.

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....Addition on account of interest @ 2% on advances - Section 144 does not at all apply to the present proceedings because the present proceedings originate from an assessment under Section 143(3) of the said Act. The addition on account of a notional income on advances is deleted - HC....

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High Court deletes 2% interest addition on advances; Section 144 inapplicable due to assessment u/s 143(3) of Income Tax Act.