https://www.taxtmi.com/caselaws?id=270336 The Tribunal allowed the assessee's appeal, overturning the disallowance of Rs. 8,32,696/- under Section 40A(2)(b) of the Income Tax Act, 1961. The Tribunal held that the interest rates paid were not unreasonable, citing consistent historical rates and the difficulty in obtaining bank loans without collateral. The order was pronounced on 26.11.2015. en-us Thu, 26 Nov 2015 00:00:00 +0530 Mon, 04 Jan 2016 12:59:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270336 The Tribunal allowed the assessee's appeal, overturning the disallowance of Rs. 8,32,696/- under Section 40A(2)(b) of the Income Tax Act, 1961. The Tribunal held that the interest rates paid were not unreasonable, citing consistent historical rates and the difficulty in obtaining bank loans without collateral. The order was pronounced on 26.11.2015. Case-Laws Income Tax Thu, 26 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270336