Assessment can be of only real income and not any notional one – ITAT
April 5, 2025
Income Tax, ITAT
Real vs. Notional Income has considerable judicial precedents in terms of directing assessment of only real income and not any notional one – ITAT In a recent judgment, Guwahati ITAT deleted addition made by AO for notional interest income on interest free advances by observing that concept of …