https://www.taxtmi.com/caselaws?id=385236 The Tribunal dismissed the revenue's appeals, affirming that the loans received by the assessee companies were genuine and not unexplained cash credits. Consequently, the interest expenses claimed on these loans were allowed. The CIT(A)'s decision was upheld, and the Tribunal found that the Assessing Officer had not provided sufficient evidence to refute the documentary evidence presented by the assessee companies. en-us Wed, 28 Aug 2019 00:00:00 +0530 Mon, 02 Sep 2019 07:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385236 The Tribunal dismissed the revenue's appeals, affirming that the loans received by the assessee companies were genuine and not unexplained cash credits. Consequently, the interest expenses claimed on these loans were allowed. The CIT(A)'s decision was upheld, and the Tribunal found that the Assessing Officer had not provided sufficient evidence to refute the documentary evidence presented by the assessee companies. Case-Laws Income Tax Wed, 28 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385236