https://www.taxtmi.com/caselaws?id=192962 The ITAT partly allowed the assessee's appeal, overturning the disallowance of rent on gold ornaments and interest payment in excess of 12%, citing consistency and market rates. However, it upheld the disallowance of interest paid to two HUFs and telephone and car expenses due to lack of prosecution on those grounds. en-us Tue, 05 Jul 2016 00:00:00 +0530 Thu, 06 Jul 2017 08:23:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192962 The ITAT partly allowed the assessee's appeal, overturning the disallowance of rent on gold ornaments and interest payment in excess of 12%, citing consistency and market rates. However, it upheld the disallowance of interest paid to two HUFs and telephone and car expenses due to lack of prosecution on those grounds. Case-Laws Income Tax Tue, 05 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192962