AO cannot sit in the chair of the businessman and direct him to do business in a particular fashion
March 22, 2016
Income Tax, ITAT, Judgments
ITAT Visakhapatnam in a recent judgment has ruled that Assessing Officer cannot sit in the chair of the businessman and direct him to do business in a particular fashion. The ITAT deleted the notional interest charged by AO on sundry debtors based on the fact that assessee charged interest for the …