AO cannot add notional interest for ICD made at Bank FD Rate

ACIT Vs. Satyam Properties & Finance Limited (ITAT Delhi)

AO cannot add notional interest for Inter Corporate Deposit (ICD) made at Bank FD Rate

The aforesaid appeal has been filed by the revenue against impugned order dated 2.9.2014, passed by Ld. CIT (Appeals) X Delhi for the quantum of assessment passed u/s 143(3) for the assessment year 2010-11. The sole ground raised by the revenue is regarding deletion of addition of Rs. 6,77,97,413/-.

2. The brief facts of

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