Interest Expense Disallowance Reviewed: 18% Rate on Unsecured Loan Reasonable Despite Section 40A(2)(b) Conditions.

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....Disallowance on account of interest expenses u/s.40A(2)(b) - the unsecured loan was required to be paid on demand, but in the case of related parties there was no such condition. We are of the considered view that the interest @18% is reasonable - AT....