https://www.taxtmi.com/caselaws?id=421720 The tribunal partially allowed the appeal by restricting the disallowance of excess interest to Rs. 2,629,649, instead of the total amount of Rs. 68,029,972. Additionally, the disallowance of Rs. 928,300,000 towards prior period expenses related to the conversion of guarantee fee into share capital payable to the Government of Maharashtra was deleted, recognizing it as a legitimate business expenditure. en-us Thu, 28 Apr 2022 00:00:00 +0530 Sat, 30 Apr 2022 08:10:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421720 The tribunal partially allowed the appeal by restricting the disallowance of excess interest to Rs. 2,629,649, instead of the total amount of Rs. 68,029,972. Additionally, the disallowance of Rs. 928,300,000 towards prior period expenses related to the conversion of guarantee fee into share capital payable to the Government of Maharashtra was deleted, recognizing it as a legitimate business expenditure. Case-Laws Income Tax Thu, 28 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421720