https://www.taxtmi.com/caselaws?id=386700 The tribunal partly allowed the appeals challenging the disallowance of interest expenditure under section 40A(2)(b) of the Income Tax Act and the ad-hoc disallowance of various expenses debited to the Profit & Loss account. It held that the Assessing Officer failed to prove the unreasonableness of the interest rate paid on unsecured loans and emphasized the absence of evidence for certain disallowances. The tribunal deleted the disallowances for interest expenditure and sales promotion/travel expenses but upheld them for motor car and telephone expenses due to insufficient evidence. en-us Fri, 26 Jul 2019 00:00:00 +0530 Mon, 08 Jun 2026 12:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386700 The tribunal partly allowed the appeals challenging the disallowance of interest expenditure under section 40A(2)(b) of the Income Tax Act and the ad-hoc disallowance of various expenses debited to the Profit & Loss account. It held that the Assessing Officer failed to prove the unreasonableness of the interest rate paid on unsecured loans and emphasized the absence of evidence for certain disallowances. The tribunal deleted the disallowances for interest expenditure and sales promotion/travel expenses but upheld them for motor car and telephone expenses due to insufficient evidence. Case-Laws Income Tax Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386700