https://www.taxtmi.com/forum/issue?id=1641 Assessing officer disallowed interest under section 40A(2) by treating the excess rate on unsecured loans from relatives as unreasonable; reasonableness must be judged on the transaction date from total facts and circumstances, including differing loan terms, timing, and contemporaneous market offers, and contemporaneous evidence of commercial necessity and genuine terms is central to contesting the disallowance. en-us Sat, 05 Dec 2009 19:18:34 +0530 Thu, 23 Jan 2025 15:58:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=1641 Assessing officer disallowed interest under section 40A(2) by treating the excess rate on unsecured loans from relatives as unreasonable; reasonableness must be judged on the transaction date from total facts and circumstances, including differing loan terms, timing, and contemporaneous market offers, and contemporaneous evidence of commercial necessity and genuine terms is central to contesting the disallowance. Discussion-Forum Income Tax Sat, 05 Dec 2009 19:18:34 +0530 https://www.taxtmi.com/forum/issue?id=1641