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TMI Blog2017 (9) TMI 1231X X X X Extracts X X X X X X X X Extracts X X X X ..... is considered by him to be excessive and unreasonable. Having regard to the factual finding of the Assessing Officer which have been confirmed by the first appellate authority and the Tribunal, we feel that the deduction is perfectly justified in the light of Section 40A(2). We do not find any questions of law arising in this case to be considered by this Court. - I.T. Appeal Nos.49 And 54 of 2017 - - - Dated:- 17-8-2017 - MR. ANTONY DOMINIC AND DAMA SESHADRI NAIDU, JJ. For The APPELLANT : Advs.Sri. P. Raghunath And Sri.Premjit Nagendran For The RESPONDENT : Sri. K. M. V. Pandalai, Income Tax Department JUDGMENT Antony Dominic, J. These appeals are filed by the assessee impugning the orders passed by the Inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have been only 12% against 19.5% paid to the HUF? D: Whether in the facts and circumstances of the case, the authorities were right in comparing the interest paid to private parties with interest applied by Bank in view of the decision of Supreme Court in UPPER INDIA PUBLISHING CO. LTD Vs. CIT and other judgments? 3. From the above, it is evident that the only issue that is raised is whether the dis-allowance of interest paid to a related concern by invoking the provisions of Section 40A (2) is justified or not. 4. Insofar as the Assessment Year 2009-10 which is the subject matter of I.T.A.13/17 is concerned, from the assessment order, a copy of which is produced as Annexure- O, we find that the assessee have availed an unse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection and the Assessing Officer is of opinion that such expenditure is excessive or unreasonable having regard to the facilities for which payment is made or the legitimate needs of the business or profession of the assessee, it is open to the Assessing Officer to disallow so much of the expenditure as is considered by him to be excessive and unreasonable. 6. Having regard to the factual finding of the Assessing Officer which have been confirmed by the first appellate authority and the Tribunal, we feel that the deduction is perfectly justified in the light of Section 40A(2). We do not find any questions of law arising in this case to be considered by this Court. Appeals fail and are dismissed accordingly. - - TaxTMI - TMITax - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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