This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Notional Interest Cannot Be Added Where No Income Earned: ITAT Kolkata
Case Law Details
- Case Name
- Basudebpur Uttarbarh Samabay Krishi Unnayan Samity Limited Vs ACIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-2016
- Courts
- All ITAT, ITAT Kolkata
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Basudebpur Uttarbarh Samabay Krishi Unnayan Samity Limited Vs ACIT (ITAT Kolkata)
Notional Interest Cannot Be Added Where No Income Earned: ITAT Kolkata Deletes Proportionate Interest Addition and Allows 80P Relief
The Kolkata ITAT allowed the assessee’s appeal for AY 2015-16 and deleted the addition made on account of proportionate interest allegedly earned on excess investments beyond capital and reserves. The Assessing Officer had computed a notional interest of ₹4.86 lakh by assuming that the assessee earned interest on investments exceeding its capital and reserve surplus, and denied ...
Author Info
