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2013 (5) TMI 50 - HC - Income TaxInterest under Section 40A(2) - excessive interest having been paid by the assessee to his relatives - Held that:- As decided in CIT v. Oriental Structural Engineers Private Limited [2010 (2) TMI 21 - NEW DELHI HIGH COURT] whether expenses claimed by an assessee were excessive or not under the provisions of Section 40A(1) was essentially a question of fact. As decided in Upper India Publishing House (P) Limited v. CIT [1978 (12) TMI 2 - SUPREME COURT] that the question whether a particular expenditure or loan was excessive and unreasonable, was essentially a question of fact and did not involve any issue of law. Thus in view of the authoritative pronouncement by the Supreme Court on the issue of expenses being excessive or not in terms of Section 40A(2) the present question sought to be raised by the revenue is not a question of law but is a question of fact which has been determined finally by the Tribunal by virtue of its impugned order. In favour of assessee.
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