Held that interest had to related parties cannot be disallowed only on the ground that the interest paid was higher than the bank interest. Addition is deleted. (AY.2013-14, 2014-15)
Il and Fs Energy Development Ltd. v. Asst. CIT (2024)110 ITR 23 (SN) (Delhi)(Trib)
S. 36(1)(iii) :Interest on borrowed capital-Interest paid to related parties higher than interest paid to banks-Disallowance is deleted. [S. 37(1)]
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