https://www.taxtmi.com/caselaws?id=446303 The ITAT Mumbai held that comparing interest rates on secured loans with unsecured non-convertible debentures is erroneous due to different risk factors. The matter was remanded to AO for determining arm's length interest rate on unsecured debentures, with directions that any disallowance should be proportionate to interest debited to profit and loss account only. Regarding CSR expenses, the Tribunal upheld CIT(A)'s decision allowing deduction under section 80G despite disallowance under section 37, following consistent precedent that CSR expenses qualify for 80G deduction. en-us Tue, 28 Nov 2023 00:00:00 +0530 Thu, 30 Nov 2023 07:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446303 The ITAT Mumbai held that comparing interest rates on secured loans with unsecured non-convertible debentures is erroneous due to different risk factors. The matter was remanded to AO for determining arm's length interest rate on unsecured debentures, with directions that any disallowance should be proportionate to interest debited to profit and loss account only. Regarding CSR expenses, the Tribunal upheld CIT(A)'s decision allowing deduction under section 80G despite disallowance under section 37, following consistent precedent that CSR expenses qualify for 80G deduction. Case-Laws Income Tax Tue, 28 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446303