https://www.taxtmi.com/caselaws?id=441102 The Tribunal allowed the appeal of the assessee regarding the disallowance of interest expenses under section 40A(2)(b) of the Income Tax Act, finding the interest rate of 16% paid on an unsecured loan to be reasonable. However, the Tribunal dismissed the appeal on the appealability of intimation/processing of return under section 143(1) of the Act, upholding the decision of the Commissioner of Income Tax (Appeals) that such grounds can only be addressed in an appeal against the intimation itself. en-us Fri, 28 Jul 2023 00:00:00 +0530 Wed, 02 Aug 2023 10:13:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441102 The Tribunal allowed the appeal of the assessee regarding the disallowance of interest expenses under section 40A(2)(b) of the Income Tax Act, finding the interest rate of 16% paid on an unsecured loan to be reasonable. However, the Tribunal dismissed the appeal on the appealability of intimation/processing of return under section 143(1) of the Act, upholding the decision of the Commissioner of Income Tax (Appeals) that such grounds can only be addressed in an appeal against the intimation itself. Case-Laws Income Tax Fri, 28 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441102