https://www.taxtmi.com/caselaws?id=778230 ITAT Delhi allowed the assessee's appeal, deleting the addition of unreal interest income where no loan was actually advanced, but clarified that deductions for interest on purported borrowed funds are disallowed in such circumstances. The tribunal found the developer filed a TDS return to cover up its defaults and allowed TDS credit of Rs. 36 lakh to be treated as repayment toward a Rs. 5 crore principal booking, noting Rs. 1.14 crore remained payable; any surplus received later will be taxable. Claim for commodity trading loss of Rs. 1,10,79,358 was not admitted. en-us Wed, 10 Sep 2025 00:00:00 +0530 Fri, 12 Sep 2025 08:45:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778230 ITAT Delhi allowed the assessee's appeal, deleting the addition of unreal interest income where no loan was actually advanced, but clarified that deductions for interest on purported borrowed funds are disallowed in such circumstances. The tribunal found the developer filed a TDS return to cover up its defaults and allowed TDS credit of Rs. 36 lakh to be treated as repayment toward a Rs. 5 crore principal booking, noting Rs. 1.14 crore remained payable; any surplus received later will be taxable. Claim for commodity trading loss of Rs. 1,10,79,358 was not admitted. Case-Laws Income Tax Wed, 10 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778230