https://www.taxtmi.com/caselaws?id=459796 The tribunal allowed the appeal of the assessee, overturning the decision of the Ld. CIT(A) regarding the addition of Rs. 93,40,810/- as interest on unsecured loans. The tribunal found that since the loans were accepted as genuine in previous assessment years, the interest should not be disallowed without new evidence. The issue of reopening the assessment under Section 147/148 was dismissed as not pressed by the assessee. The AO was directed to delete the addition of interest on the unsecured loans. en-us Fri, 10 May 2024 00:00:00 +0530 Sat, 28 Dec 2024 00:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459796 The tribunal allowed the appeal of the assessee, overturning the decision of the Ld. CIT(A) regarding the addition of Rs. 93,40,810/- as interest on unsecured loans. The tribunal found that since the loans were accepted as genuine in previous assessment years, the interest should not be disallowed without new evidence. The issue of reopening the assessment under Section 147/148 was dismissed as not pressed by the assessee. The AO was directed to delete the addition of interest on the unsecured loans. Case-Laws Income Tax Fri, 10 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459796