https://www.taxtmi.com/caselaws?id=301023 The Tribunal overturned the disallowance of interest under section 40A(2)(b) of the Income-tax Act, emphasizing the lack of factual findings on the excessiveness or unreasonableness of the interest payments. The appellant successfully argued that the interest paid was not excessive or unreasonable, citing inconsistencies in the Assessing Officer's determination. The Tribunal ruled in favor of the appellant, reversing the First Appellate Authority's decision and allowing the appeal to disallow the interest payments. en-us Fri, 22 Feb 2013 00:00:00 +0530 Tue, 08 Mar 2022 18:44:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301023 The Tribunal overturned the disallowance of interest under section 40A(2)(b) of the Income-tax Act, emphasizing the lack of factual findings on the excessiveness or unreasonableness of the interest payments. The appellant successfully argued that the interest paid was not excessive or unreasonable, citing inconsistencies in the Assessing Officer's determination. The Tribunal ruled in favor of the appellant, reversing the First Appellate Authority's decision and allowing the appeal to disallow the interest payments. Case-Laws Income Tax Fri, 22 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301023