Interest on unsecured loan disallowed

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..... AO HAS U/S 40A(2) DISALLOWED INTEREST PAID TO RELATIVES @18% AND OTHERS @ 12%.I.E 6% HAS BEEN DISALLOWED.INTEREST PAID TO BANK 14.25% AND UNSECURED LOAN FROM RELATIVES WAS TAKEN TO TIDE OVER THE CRI .....

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..... SIS AS BANK HAS REFUSED LIMITS AS MAJOR DEBTOR HAD GONE TO BIFR.WHETHER AO ACTION RIGHT??? - Reply By Rama Krishana - The Reply = You may visit the following case: 2009 TMI - 32197 - PUNJAB AND HARYA .....

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..... NA HIGH COURT. In addition i am fully in agreement with the view of the Mr. Kothari that it is an issue of facts. If the facts shows that the interest paid to relatives is genuine, you would get the j .....

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..... ustice at the appropriate forum. - Interest on unsecured loan disallowed - Query Started By: - satbir singh wahi Dated:- 2-12-2009 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledg .....

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..... e Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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