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The Panaji Bench of the Income Tax Appellate Tribunal (ITAT) has disallowed the interest paid on a loan that was taken for paying compensation to the assessee’s family members pursuant to an arbitral.

Partha sarathi chaudhurySanjay atchut poy raiturcarPanaji benchIncome tax appellate tribunalVice presidentJudicial memberIncome taxPortuguese civil codeFabrica de gasSanjay atchut poy raiturcar versusArbitral awardFamily settlement