https://www.taxtmi.com/caselaws?id=422345 The Tribunal allowed the Assessee's appeal, deleting the disallowance of interest payments and car lease payments to related parties under section 40A(2)(b) of the Income Tax Act. The Tribunal found no justification for the disallowance of 20% interest payments, as past assessments accepted the 12% rate. Similarly, the disallowance of car lease payments was overturned due to lack of evidence of excessive payment and inconsistency with past assessments. en-us Wed, 27 Apr 2022 00:00:00 +0530 Fri, 13 May 2022 07:51:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422345 The Tribunal allowed the Assessee's appeal, deleting the disallowance of interest payments and car lease payments to related parties under section 40A(2)(b) of the Income Tax Act. The Tribunal found no justification for the disallowance of 20% interest payments, as past assessments accepted the 12% rate. Similarly, the disallowance of car lease payments was overturned due to lack of evidence of excessive payment and inconsistency with past assessments. Case-Laws Income Tax Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422345