https://www.taxtmi.com/caselaws?id=779420 ITAT, Ahmedabad allowed the appeal, holding the assessee met the onus to prove interest paid claimed as a deduction under s.57. The tribunal found the assessee earned roughly Rs.60 lakh interest and paid about Rs.55 lakh, reflecting an overall 12% interest position, and accepted the explanation that certain parties listed had no loans in the relevant year and opening balances supported the payment. CIT(A)'s rejection was set aside and the deduction was allowed. en-us Thu, 25 Sep 2025 00:00:00 +0530 Mon, 06 Oct 2025 09:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779420 ITAT, Ahmedabad allowed the appeal, holding the assessee met the onus to prove interest paid claimed as a deduction under s.57. The tribunal found the assessee earned roughly Rs.60 lakh interest and paid about Rs.55 lakh, reflecting an overall 12% interest position, and accepted the explanation that certain parties listed had no loans in the relevant year and opening balances supported the payment. CIT(A)'s rejection was set aside and the deduction was allowed. Case-Laws Income Tax Thu, 25 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779420