WE HAVE RECD 6 LAKH FROM A RESIDENT IN OUR FIRM AS UNSECURED LOAN IN 2011. NOW WE HAVE TO PAY THIS AMOUNT. CAN WE PAY WITHOUT INT. PLS CONFIRM.
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(178226 Points)
Replied 19 May 2018
No problem as such to Borrower, but AO may add notional interest to Lender.
JAI BHOLA
(504 Points)
Replied 20 May 2018
further you can debate with the AO for the notional interest stating the HERO cycle case in which supreme court negating all the attempts of AO to step in the shoes of business men and decide what should have been done...
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