TMI BlogAccrual of income - Addition of notional interest @ 10 % on deposit made - interest having neither been...Accrual of income - Addition of notional interest @ 10 % on deposit made - interest having neither been accrued to the assessee (as per specific terms of the Agreement placed on record before us) and neither any interest having being received by the assessee, such interest cannot be subject to tax in the hands of the assessee on purely “notional basis” - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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