2001 (3) TMI 678

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..... two Revenue appeals arise from a common order passed by Commissioner (Appeals), Trichy by which he has upheld the contention of the assessee that no notional interest is required to be added in respect of security deposits on the advances kept by the dealers with the assessees. In this regard, he has relied on the Division Bench judgment rendered by the Madras High Court judgment rendered in the .....

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..... is not maintainable. 2. Ld. DR Shri S. Kannan takes us through the grounds made out by Revenue in these appeals and contends that there is clear nexus with regard to deposits made by the dealers as otherwise the appellants would have taken loan from the bank and they would have paid interest on such loans. Therefore, the Apex Court judgment has clearly noted that on such interest free advances, .....

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..... cting for addition of notional interest is required to be upheld. 3. We have carefully considered the submissions and have noted the judgments cited by the Commissioner (Appeals) in his order. The Commissioner (Appeals) has analysed the judgment of the Madras High Court and the Supreme Court in the case of Metal Box as well as Board s instructions. He has correctly examined the issue and noted t .....

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