https://www.taxtmi.com/caselaws?id=11191 The High Court dismissed the appeal, upholding the Tribunal's decision to delete notional interest on debit balances of sister concerns due to business expediency. The Court also supported the hybrid accounting method used by the assessee for interest payments, finding it justified under the Income Tax Act. Additionally, the disallowance under section 40A(3) for cash payments was overturned based on genuine difficulties faced by the parties, meeting the conditions of an exception under rule 6DD(j). The judgment emphasized the importance of business practicality and the specific circumstances of the case. en-us Wed, 12 Nov 2003 00:00:00 +0530 Sat, 01 Aug 2009 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11191 The High Court dismissed the appeal, upholding the Tribunal's decision to delete notional interest on debit balances of sister concerns due to business expediency. The Court also supported the hybrid accounting method used by the assessee for interest payments, finding it justified under the Income Tax Act. Additionally, the disallowance under section 40A(3) for cash payments was overturned based on genuine difficulties faced by the parties, meeting the conditions of an exception under rule 6DD(j). The judgment emphasized the importance of business practicality and the specific circumstances of the case. Case-Laws Income Tax Wed, 12 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11191