https://www.taxtmi.com/highlights?id=51653 Disallowance of interest - assessee had taken unsecured loans from the family members of the partners in the earlier years and paying interest @ 15% on the same - Fresh borrowing during the year from HDFC bank has been utilized for advancing to the partners and the family members and there is thus a direct nexus - it would have been appropriate to compare the related party transaction with an independent third party transaction carrying the same qualitative unsecured loan parameters. en-us Sat, 08 Feb 2020 07:45:53 +0530 Sat, 08 Feb 2020 07:45:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=51653 Disallowance of interest - assessee had taken unsecured loans from the family members of the partners in the earlier years and paying interest @ 15% on the same - Fresh borrowing during the year from HDFC bank has been utilized for advancing to the partners and the family members and there is thus a direct nexus - it would have been appropriate to compare the related party transaction with an independent third party transaction carrying the same qualitative unsecured loan parameters. Highlights Income Tax Sat, 08 Feb 2020 07:45:53 +0530 https://www.taxtmi.com/highlights?id=51653