https://www.taxtmi.com/caselaws?id=418354 The ITAT Mumbai partially allowed the appeal of the assessee regarding the disallowance under section 40A(2) for excessive interest paid to a director, emphasizing the tax neutrality in the transaction. However, the appeal concerning fees paid for Investment Advisory Services was dismissed, as evidence supported the disallowance due to the nature of the payment being for advisory services rather than loan syndication. en-us Tue, 01 Feb 2022 00:00:00 +0530 Tue, 15 Feb 2022 08:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418354 The ITAT Mumbai partially allowed the appeal of the assessee regarding the disallowance under section 40A(2) for excessive interest paid to a director, emphasizing the tax neutrality in the transaction. However, the appeal concerning fees paid for Investment Advisory Services was dismissed, as evidence supported the disallowance due to the nature of the payment being for advisory services rather than loan syndication. Case-Laws Income Tax Tue, 01 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418354