https://www.taxtmi.com/caselaws?id=151491 The deletion of disallowance of excess interest paid by the assessee and addition of unexplained share capital were both upheld by the Tribunal. The Tribunal found no nexus between the interest paid and loans given by the assessee, leading to the deletion of the excess interest disallowance. Additionally, since the identity and genuineness of the share subscribers were established, the addition of unexplained share capital was also deleted. The appeal filed by the Department was dismissed. en-us Wed, 09 Dec 2009 00:00:00 +0530 Thu, 06 Jun 2013 16:04:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151491 The deletion of disallowance of excess interest paid by the assessee and addition of unexplained share capital were both upheld by the Tribunal. The Tribunal found no nexus between the interest paid and loans given by the assessee, leading to the deletion of the excess interest disallowance. Additionally, since the identity and genuineness of the share subscribers were established, the addition of unexplained share capital was also deleted. The appeal filed by the Department was dismissed. Case-Laws Income Tax Wed, 09 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151491