Disallowance of interest paid on loan u/s.40A(2)(b) - excessive ...

Interest Disallowance Overturned: Lack of Evidence on Rate Fairness Leads to Deletion of Additions u/s 40A(2)(b.

November 22, 2023

Case Laws Income Tax AT

Disallowance of interest paid on loan u/s.40A(2)(b) - excessive or unreasonable expenditure - Neither the AO nor the Ld.CIT(A) have demonstrated as to how the rate of interest applied by them was the fair rate , nor have they demonstrated as to how the rate applied by the assessee was unreasonable. - Additions deleted - AT

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Disallowance of interest paid on loan u/s.40A(2)(b) - excessive ...

Interest Disallowance Overturned: Lack of Evidence on Rate Fairness Leads to Deletion of Additions u/s 40A(2)(b.

November 22, 2023

Case Laws Income Tax AT

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