ITAT Mumbai Quashes Reopening & Deletes Rs. 8.46 Cr Notional Interest Addition

ACIT Vs Solapur Yedeshi Tollway Limited (ITAT Mumbai) ITAT Mumbai Quashes Reopening & Deletes Rs. 8.46 Cr Notional Interest Addition- No Tax on Hypothetical Income – Tribunal Grants Relief to Solapur Yedeshi Tollway- Reopening Based on Change of Opinion Invalid Assessee, a special purpose vehicle incorporated by IRB Infrastructure Developers Ltd. for construction of Solapur–Yedeshi section of NH-211 under BOT project, had subcontracted construction to IRB under an EPC contract dated 29.03.2014. As per contract terms, it was obliged to provide interest-free mobilization advance to the E...