Disallowance of interest u/s 40A - The unsecured borrowings by a ...

Income Tax

June 8, 2015

Disallowance of interest u/s 40A - The unsecured borrowings by a commercial organisation like the assessee, on these facts, @ 16% interest seems to be reasonable. The benchmark @ 14% adopted by the ld. CIT(A), by taking fixed deposit interest rates of companies like MGF Limited and Rama Vision Ltd., cannot be applied in a rigid way. - AT

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Disallowance of interest u/s 40A - The unsecured borrowings by a ...

Income Tax

June 8, 2015

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