https://www.taxtmi.com/caselaws?id=195167 The appeal against the order of CIT(A) under the IT Act for the assessment year 2007-08, involving the disallowance of interest and commission under section 40A(2)(b) of the Act, was successful. The Tribunal found the interest rate paid to related parties reasonable and directed the deletion of the disallowance of interest. Similarly, the commission payment was deemed legitimate business expenditure, leading to the deletion of the disallowance of commission. As a result, the additions of both interest and commission disallowances were overturned in favor of the assessee. en-us Fri, 17 May 2013 00:00:00 +0530 Wed, 18 Oct 2017 10:29:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195167 The appeal against the order of CIT(A) under the IT Act for the assessment year 2007-08, involving the disallowance of interest and commission under section 40A(2)(b) of the Act, was successful. The Tribunal found the interest rate paid to related parties reasonable and directed the deletion of the disallowance of interest. Similarly, the commission payment was deemed legitimate business expenditure, leading to the deletion of the disallowance of commission. As a result, the additions of both interest and commission disallowances were overturned in favor of the assessee. Case-Laws Income Tax Fri, 17 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195167