https://www.taxtmi.com/caselaws?id=261145 The Tribunal partly allowed the assessee's appeal regarding the disallowance of interest under Section 36(1)(iii) of the Income Tax Act, directing the Assessing Officer to recompute the disallowance using the average cost of debt. On the issue of excess salary paid under Section 40A(2)(b), the Tribunal dismissed the revenue's appeal, emphasizing the importance of reasonableness and market conditions in determining disallowances, and noting that the Assessing Officer failed to establish the salary as excessive or unreasonable based on market value. en-us Mon, 23 Dec 2013 00:00:00 +0530 Fri, 03 Jul 2015 07:49:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=261145 The Tribunal partly allowed the assessee's appeal regarding the disallowance of interest under Section 36(1)(iii) of the Income Tax Act, directing the Assessing Officer to recompute the disallowance using the average cost of debt. On the issue of excess salary paid under Section 40A(2)(b), the Tribunal dismissed the revenue's appeal, emphasizing the importance of reasonableness and market conditions in determining disallowances, and noting that the Assessing Officer failed to establish the salary as excessive or unreasonable based on market value. Case-Laws Income Tax Mon, 23 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=261145