https://www.taxtmi.com/caselaws?id=58163 The Appellate Tribunal ITAT BOMBAY-A ruled in favor of the assessee for the assessment year 1980-81 in a case concerning liability to pay interest under s. 40A(8) of the IT Act, 1961. The Tribunal determined that the assessee qualified as a financial company under s. 40A(8)(c)(iii), exempting it from the provisions of s. 40A(8) based on the company's main objectives outlined in its Memorandum and Articles of Association. en-us Wed, 22 Aug 1984 00:00:00 +0530 Fri, 17 Dec 2010 16:35:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58163 The Appellate Tribunal ITAT BOMBAY-A ruled in favor of the assessee for the assessment year 1980-81 in a case concerning liability to pay interest under s. 40A(8) of the IT Act, 1961. The Tribunal determined that the assessee qualified as a financial company under s. 40A(8)(c)(iii), exempting it from the provisions of s. 40A(8) based on the company's main objectives outlined in its Memorandum and Articles of Association. Case-Laws Income Tax Wed, 22 Aug 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58163