https://www.taxtmi.com/highlights?id=23258 Disallowance of interest u/s 40A - The unsecured borrowings by a commercial organisation like the assessee, on these facts, @ 16% interest seems to be reasonable. The benchmark @ 14% adopted by the ld. CIT(A), by taking fixed deposit interest rates of companies like MGF Limited and Rama Vision Ltd., cannot be applied in a rigid way. - AT en-us Mon, 08 Jun 2015 08:34:35 +0530 Mon, 08 Jun 2015 08:34:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=23258 Disallowance of interest u/s 40A - The unsecured borrowings by a commercial organisation like the assessee, on these facts, @ 16% interest seems to be reasonable. The benchmark @ 14% adopted by the ld. CIT(A), by taking fixed deposit interest rates of companies like MGF Limited and Rama Vision Ltd., cannot be applied in a rigid way. - AT Highlights Income Tax Mon, 08 Jun 2015 08:34:35 +0530 https://www.taxtmi.com/highlights?id=23258