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2013 (8) TMI 1019 - AT - Income TaxAddition of interest on notional basis - Held that:- The assessee has not provided any material/evidence to establish that there has been a claim for the repayment of the loan/interest and a consequent refusal thereon to pay the same. It is also noted that the assessee has not written off the loan as bad debt. As regards the contention of the assessee that the said interest has not been paid to the assessee due to the litigation with the debtors, in our view is not acceptable as the AO and the Ld.CIT(A) has correctly held that there is no dispute between the assessee and the parties to whom the loans have been made on this issue. Mere fact that the said parties have not paid the impugned interest to the assessee as per their return cannot be the basis for giving relief to the assessee as the same has been assessed only on accrual basis and not on the basis of actual receipt - Decided against assessee
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