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2018 (3) TMI 1306 - AT - Income TaxAccrual of income - Addition on account of interest accrued on the loans advanced by the assessee - Held that:- As relying on assessee’s own case (2014 (12) TMI 300 - ITAT HYDERABAD and 2014 (9) TMI 317 - ITAT HYDERABAD), we hold that the notional interest on above advances cannot be charged on accrual basis and the Assessing Officer is directed to verify the interest actually received and assess the same on actual receipt basis. Accordingly, the appeal filed by the Revenue is allowed for statistical purposes.
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