https://www.taxtmi.com/caselaws?id=779413 Borrowed funds deployed in lending transactions that generated taxable interest income supported deduction of the related interest expenditure under section 57, because the borrowing and income-producing use of funds showed a direct nexus and substance over form applied; the disallowance was deleted. Sale proceeds from land could not be conclusively treated as unexplained cash credit where the assessee produced sale deed and revenue records, including a Tehsildar's certificate, showing the land as agricultural; the addition was set aside for fresh verification of the land's character and documentary evidence. en-us Wed, 24 Sep 2025 00:00:00 +0530 Mon, 06 Oct 2025 09:10:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779413 Borrowed funds deployed in lending transactions that generated taxable interest income supported deduction of the related interest expenditure under section 57, because the borrowing and income-producing use of funds showed a direct nexus and substance over form applied; the disallowance was deleted. Sale proceeds from land could not be conclusively treated as unexplained cash credit where the assessee produced sale deed and revenue records, including a Tehsildar's certificate, showing the land as agricultural; the addition was set aside for fresh verification of the land's character and documentary evidence. Case-Laws Income Tax Wed, 24 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779413