Interest Payment at 15% u/s 40A(2)(b) to related parties is not considered to be excessive

CLR Editorial Notes:  This appeal was presented by the assessee for the assessment year 2007-2008 which was directed against the order of the CIT(A)-XXI. The contention of the assessee was that the CIT (A) had erred in confirming the addition u/s 40A(2)(b) of a said amount which was alleged to be an excessive payment of interest by 3%, and also overlooked the… Read More

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