Is notional interest to be charged on share application money advanced to subsidiary/joint venture/associate companies?

IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI “G” BENCH: NEW DELHI
(THROUGH VIDEO CONFERENCING)
BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER &
DR.B.R.R.KUMAR, ACCOUNTANT MEMBER
ITA No.4270/Del/2017
Assessment Year : 2012-13

Unitech Holdings Ltd.,
C/o-Luthra & Luthra Law
Ofices, 103, Ashoka Estate,
Barakhamba Road,
New Delhi-110001.
PAN-AAACU0237C

vs

DCIT,
Cricle-27(1),
New Delhi.

APPELLANT RESPONDENT
Appellant by None
Respondent by Sh.H.K.Chaudhary, CIT DR
Date of Hearing 28.07.2021
Date of Pronouncement 28.07.2021
ORDER

This appeal filed by the assessee for the assessment year 2012-13 is directed against the order of Ld. CIT(A)-10, New Delhi dated 30.03.2017. The assessee has raised.

2. No one appeared on behalf of the assessee at the time of hearing. The notice of hearing was sent through speed post to the address provided by the assessee which is returned back with remark “refused to take delivery of the letter”. The notice is returned back unserved.

3.We have heard the Ld. CIT DR and perused the material available on record. In these facts and circumstances, it appeared that the assessee is not interested in prosecuting the present appeal. Since none appeared on behalf of the assessee despite service of notices therefore, following the decision of Hon’ble Supreme Court in the case of CIT vs B. N. Bhattacharya (1997) 118 ITR 461 (SC) and decision of Delhi Tribunal in the case of CIT vs Multiplan India Pvt. Ltd. reported in 38 ITD 320 (Del.). We hereby dismissed the appeal of theassessee for want of prosecution.

4. In the result, the appeal of the assessee is dismissed.
Above decision was pronounced on conclusion of Virtual Hearing on 28th July, 2021.

Please find attached the enclosed file for the full judgement