https://www.taxtmi.com/caselaws?id=775507 The ITAT Chennai upheld the AO and CIT(A) orders disallowing the interest claimed on borrowed capital under section 57, as the assessee failed to provide evidence of fund utilization for house construction. The reduction in gross receipts from other sources and the differential interest claimed were also unexplained. Due to the absence of supporting documents or explanations, the tribunal confirmed the additions made under section 153A and dismissed the assessee's appeal. en-us Tue, 03 Jun 2025 00:00:00 +0530 Fri, 25 Jul 2025 17:15:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775507 The ITAT Chennai upheld the AO and CIT(A) orders disallowing the interest claimed on borrowed capital under section 57, as the assessee failed to provide evidence of fund utilization for house construction. The reduction in gross receipts from other sources and the differential interest claimed were also unexplained. Due to the absence of supporting documents or explanations, the tribunal confirmed the additions made under section 153A and dismissed the assessee's appeal. Case-Laws Income Tax Tue, 03 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775507