https://www.taxtmi.com/caselaws?id=270657 The Tribunal partly allowed the Assessee's appeal regarding the disallowance of interest expenses under section 40A(2)(b) for Assessment Years 2008-09 and 2009-10, finding the interest rate of 18% reasonable compared to unrelated parties. However, the appeal challenging the disallowance of business development expenses for Assessment Year 2008-09 was dismissed due to consistent past decisions upholding such disallowances. en-us Tue, 27 Oct 2015 00:00:00 +0530 Tue, 12 Jan 2016 00:50:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270657 The Tribunal partly allowed the Assessee's appeal regarding the disallowance of interest expenses under section 40A(2)(b) for Assessment Years 2008-09 and 2009-10, finding the interest rate of 18% reasonable compared to unrelated parties. However, the appeal challenging the disallowance of business development expenses for Assessment Year 2008-09 was dismissed due to consistent past decisions upholding such disallowances. Case-Laws Income Tax Tue, 27 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270657