https://www.taxtmi.com/caselaws?id=245196 The High Court upheld the Tribunal's decision to allow the appeal of the assessee in disallowing excess interest under section 40A(2)(a) for the assessment year 2007-08. The Court found that the interest rates paid were justified by business needs and the tax bracket of the directors, concluding that no question of law arose in the case. The Tax Appeal was dismissed. en-us Fri, 07 Feb 2014 00:00:00 +0530 Fri, 21 Mar 2014 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245196 The High Court upheld the Tribunal's decision to allow the appeal of the assessee in disallowing excess interest under section 40A(2)(a) for the assessment year 2007-08. The Court found that the interest rates paid were justified by business needs and the tax bracket of the directors, concluding that no question of law arose in the case. The Tax Appeal was dismissed. Case-Laws Income Tax Fri, 07 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245196