https://www.taxtmi.com/caselaws?id=379561 The Appellate Tribunal ITAT MUMBAI ruled in favor of the assessee, allowing the appeal in part and deleting the transfer pricing adjustment and disallowance of interest expenditure. The judgment emphasized the invalidity of re-characterizing preferential shares as an interest-free loan and the need for proper justification for disallowing interest expenditure under section 36(1)(iii) of the Act. en-us Tue, 30 Apr 2019 00:00:00 +0530 Sat, 04 May 2019 06:17:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379561 The Appellate Tribunal ITAT MUMBAI ruled in favor of the assessee, allowing the appeal in part and deleting the transfer pricing adjustment and disallowance of interest expenditure. The judgment emphasized the invalidity of re-characterizing preferential shares as an interest-free loan and the need for proper justification for disallowing interest expenditure under section 36(1)(iii) of the Act. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379561