https://www.taxtmi.com/caselaws?id=776102 ITAT Mumbai allowed the assessee's appeal against disallowance under section 40A(3) r.w.r 6DD relating to payments made via bearer cheques, holding that the genuineness of transactions was established and no evidence was produced by AO to prove payments were bogus. The disallowance of interest expenses, treated as related to bogus cash credits, was partly allowed proportionate to the allowed cash credits. However, since interest was disallowed in respect of parties to whom no interest was paid, the matter was remanded to AO for factual verification. en-us Mon, 16 Jun 2025 00:00:00 +0530 Tue, 05 Aug 2025 07:54:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776102 ITAT Mumbai allowed the assessee's appeal against disallowance under section 40A(3) r.w.r 6DD relating to payments made via bearer cheques, holding that the genuineness of transactions was established and no evidence was produced by AO to prove payments were bogus. The disallowance of interest expenses, treated as related to bogus cash credits, was partly allowed proportionate to the allowed cash credits. However, since interest was disallowed in respect of parties to whom no interest was paid, the matter was remanded to AO for factual verification. Case-Laws Income Tax Mon, 16 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776102