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2022 (4) TMI 501 - AT - Income TaxAddition made on account of notional interest on interest free deposit’s received by the assessee - HELD THAT:- As is evident and also admitted by the learned AR that the aforesaid decision in Tip Top Typography [2014 (8) TMI 356 - BOMBAY HIGH COURT] was not pointed out and therefore not considered by the Tribunal. Thus, the Co-ordinate Bench of Tribunal had no benefit of the decision of Hon’ble Jurisdictional High Court while deciding the assessee’s appeal for assessment year 2012–13 and accordingly addition was upheld on the basis of security deposit received by the assessee by following decision rendered in K. Streetlite Electric Corporation [2010 (10) TMI 742 - PUNJAB AND HARYANA HIGH COURT] The decision in Tip Top Typography (supra) is rendered by Hon’ble Jurisdictional High Court and is thus binding on us. However, in the present case, the addition has been made following the approach adopted in the assessment year 2012–13. Therefore, we deem it appropriate to remand this issue to the file of Assessing Officer for de novo adjudication in light of the decision of Hon’ble Jurisdictional High Court in Tip Top Typography (supra). Accordingly, ground nos.1 to 4 raised in assessee’s appeal are allowed for statistical purpose.
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