https://www.taxtmi.com/caselaws?id=380356 The Tribunal partly allowed the appeal, deleting the disallowance under section 40A(2)(b) for excessive interest payment and reducing the disallowance under section 36(1)(iii) for interest expenses on advances. The Tribunal emphasized the necessity of comparing fair market rates before disallowing payments under section 40A(2)(b) and adjusted the disallowance under section 36(1)(iii) to a proportionate amount. en-us Tue, 19 Feb 2019 00:00:00 +0530 Mon, 20 May 2019 07:00:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380356 The Tribunal partly allowed the appeal, deleting the disallowance under section 40A(2)(b) for excessive interest payment and reducing the disallowance under section 36(1)(iii) for interest expenses on advances. The Tribunal emphasized the necessity of comparing fair market rates before disallowing payments under section 40A(2)(b) and adjusted the disallowance under section 36(1)(iii) to a proportionate amount. Case-Laws Income Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380356