https://www.taxtmi.com/caselaws?id=13925 The High Court of GUJARAT upheld the disallowance of interest under section 40A(8) of the Income-tax Act, 1961, ruling in favor of the Revenue. The court found that the assessee failed to provide evidence that the interest payment qualified for exemption under Explanation (b)(vii) of section 40A(8), leading to the dismissal of the plea. The judgment highlighted the necessity of substantiating claims under tax provisions and emphasized the importance of presenting supporting evidence in tax-related matters. en-us Tue, 29 Aug 2000 00:00:00 +0530 Mon, 06 Jul 2009 11:18:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13925 The High Court of GUJARAT upheld the disallowance of interest under section 40A(8) of the Income-tax Act, 1961, ruling in favor of the Revenue. The court found that the assessee failed to provide evidence that the interest payment qualified for exemption under Explanation (b)(vii) of section 40A(8), leading to the dismissal of the plea. The judgment highlighted the necessity of substantiating claims under tax provisions and emphasized the importance of presenting supporting evidence in tax-related matters. Case-Laws Income Tax Tue, 29 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13925