https://www.taxtmi.com/caselaws?id=194790 The appeals were partly allowed in this case. The disallowance of interest under Section 40A(2) was overturned as the Assessing Officer failed to prove the excessiveness of the interest rate compared to the market rate. The disallowance under Section 14A was directed to be recomputed, excluding long-term capital gains. Additionally, the disallowance of consultancy charges under Section 37(1) was overturned due to the necessity and consistency of such expenses in the appellant's business operations. en-us Thu, 18 May 2017 00:00:00 +0530 Wed, 27 Sep 2017 09:10:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194790 The appeals were partly allowed in this case. The disallowance of interest under Section 40A(2) was overturned as the Assessing Officer failed to prove the excessiveness of the interest rate compared to the market rate. The disallowance under Section 14A was directed to be recomputed, excluding long-term capital gains. Additionally, the disallowance of consultancy charges under Section 37(1) was overturned due to the necessity and consistency of such expenses in the appellant's business operations. Case-Laws Income Tax Thu, 18 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194790