https://www.taxtmi.com/caselaws?id=244247 The Appellate Tribunal ITAT Mumbai allowed the assessee's appeal, overturning the disallowance of interest on unsecured loans and in the work-in-progress account. The Tribunal emphasized the importance of proving the genuineness and business purpose of loans, highlighting the lack of adverse findings in previous years and the assessee's compliance with TDS requirements as supporting factors. en-us Fri, 14 Feb 2014 00:00:00 +0530 Fri, 21 Feb 2014 09:51:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244247 The Appellate Tribunal ITAT Mumbai allowed the assessee's appeal, overturning the disallowance of interest on unsecured loans and in the work-in-progress account. The Tribunal emphasized the importance of proving the genuineness and business purpose of loans, highlighting the lack of adverse findings in previous years and the assessee's compliance with TDS requirements as supporting factors. Case-Laws Income Tax Fri, 14 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244247