Tribunal held that when the assessee charged 9% on the amount outstanding, the disallowance of interest at 12% is held ton be not justified. (AY. 2011-12)
Alkoplus Producers (P.) Ltd. v. DCIT (2019) 177 ITD 150 / 71 ITR 650/ 181 DTR 329/ 201 TTJ 893 (Pune)(Trib.)
S. 37(1) : Business expenditure-Interest bearing loans–Charged interest at 9% – Disallowance of interest at 12% is held to be not justified. [S. 36(1)(iii)]