https://www.taxtmi.com/highlights?id=60563 Disallowance on interest u/s. 36(1)(iii) - AO has compared the payment of interest @ 12%/15% on the unsecured loan obtained by the assessee with the interest amount received by the assessee @ 8% on FDR made with the HDFC bank - the definite amount of interest paid on unsecured loan used to be on higher side compared to the interest charged on secured loan, therefore, we do not find any justification in the decision of ld. CIT(A) in sustaining the disallowance of interest payment made by the Assessing Officer. - AT en-us Thu, 18 Nov 2021 07:45:10 +0530 Thu, 18 Nov 2021 07:45:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=60563 Disallowance on interest u/s. 36(1)(iii) - AO has compared the payment of interest @ 12%/15% on the unsecured loan obtained by the assessee with the interest amount received by the assessee @ 8% on FDR made with the HDFC bank - the definite amount of interest paid on unsecured loan used to be on higher side compared to the interest charged on secured loan, therefore, we do not find any justification in the decision of ld. CIT(A) in sustaining the disallowance of interest payment made by the Assessing Officer. - AT Highlights Income Tax Thu, 18 Nov 2021 07:45:10 +0530 https://www.taxtmi.com/highlights?id=60563