https://www.taxtmi.com/caselaws?id=420913 The Tribunal set aside the order of the CIT(A) and vacated the disallowance under Section 40A(2)(a) to the extent sustained by the CIT(A), thereby allowing the appeal of the assessee. The Tribunal emphasized the importance of considering the legitimate needs of the business while disallowing expenses and highlighted the practical differences in securing loans from related parties versus banks. en-us Wed, 30 Mar 2022 00:00:00 +0530 Wed, 13 Apr 2022 08:39:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420913 The Tribunal set aside the order of the CIT(A) and vacated the disallowance under Section 40A(2)(a) to the extent sustained by the CIT(A), thereby allowing the appeal of the assessee. The Tribunal emphasized the importance of considering the legitimate needs of the business while disallowing expenses and highlighted the practical differences in securing loans from related parties versus banks. Case-Laws Income Tax Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420913