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2014 (8) TMI 206 - HC - Income TaxExcessive interest paid to associates u/s 40A(2)(b) Held that:- There was no basis for the AO to come to the conclusion that amount of interest paid at the rate of 12% would relate to the concerned parties was otherwise excessive and / or unreasonable - solely because the assessee for whatever reasons/consideration charged the interest at different rates by that itself cannot be a ground to come to the conclusion that charging of interest at higher rate than charged from other party was excessive and / or unreasonable Tribunal have rightly deleted the disallowance made by the AO u/s 40A(2)(b) of the Act Decided against Revenue. Depreciation on wind measure equipment Failure to prove that the assets have commissioned and put to use Held that:- The Tribunal rightly noted that similar evidence produced by the assessee also for met masts put to use up to February 2009 was accepted by the AO as evidence for date of put to use of met masts - when AO itself accepted and considered the certificate as evidence sufficient to prove that the assets were commissioner and put to use for the purpose of business during the year, it cannot be said that the Tribunal has committed any error and deleting the disallowance u/s 32 of the Act Decoded against Revenue.
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