https://www.taxtmi.com/caselaws?id=400048 The Tribunal allowed the appeal of the assessee and deleted the disallowance of interest paid on unsecured loans. It concluded that the interest rate of 18% was justified as the market rate, and the restriction imposed by the Assessing Officer was unwarranted. The Tribunal criticized the lower authorities for not properly considering the factual contentions of the assessee and upheld the principle of consistency in accepting the interest rate. en-us Thu, 22 Oct 2020 00:00:00 +0530 Mon, 26 Oct 2020 13:25:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400048 The Tribunal allowed the appeal of the assessee and deleted the disallowance of interest paid on unsecured loans. It concluded that the interest rate of 18% was justified as the market rate, and the restriction imposed by the Assessing Officer was unwarranted. The Tribunal criticized the lower authorities for not properly considering the factual contentions of the assessee and upheld the principle of consistency in accepting the interest rate. Case-Laws Income Tax Thu, 22 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400048