https://www.taxtmi.com/caselaws?id=300549 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to disallow a portion of interest expenses under section 40A(2)(b). It held that the interest payments made by the appellant were reasonable and not excessive, considering the business context and comparable rates for secured loans. The Tribunal directed the Assessing Officer to delete the disallowance of interest payments, emphasizing the lack of evidence to establish excessive or unreasonable interest rates paid to related parties. en-us Tue, 25 Feb 2020 00:00:00 +0530 Fri, 11 Feb 2022 07:18:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300549 The Tribunal allowed the appeal, overturning the CIT(A)'s decision to disallow a portion of interest expenses under section 40A(2)(b). It held that the interest payments made by the appellant were reasonable and not excessive, considering the business context and comparable rates for secured loans. The Tribunal directed the Assessing Officer to delete the disallowance of interest payments, emphasizing the lack of evidence to establish excessive or unreasonable interest rates paid to related parties. Case-Laws Income Tax Tue, 25 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300549