TMI Blog2015 (8) TMI 1509X X X X Extracts X X X X X X X X Extracts X X X X ..... tion. The Court finds no substantial question of law arises in the above facts as far as this issue is concerned. Addition on account of notional interest on interest free loans/advances - HELD THAT:- ITAT has rightly observed that there is no provision for taxing notional income as explained by the Supreme Court in Excel Industries [ 2013 (10) TMI 324 - SUPREME COURT ]. - ITA 559/2015 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the creditors in question were having running accounts with the Assessee and that the balance belonged to the earlier years. There was no fresh credit during the year in question. The Court finds no substantial question of law arises in the above facts as far as this issue is concerned. 5. The second issue concerns the addition of ₹ 90,50,000/- on account of notional interest on interest ..... X X X X Extracts X X X X X X X X Extracts X X X X
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