https://www.taxtmi.com/caselaws?id=780990 ITAT MUMBAI (AT) restored the AO's addition of Rs.25,00,000 as unexplained cash credit under s.68, finding the assessee failed to discharge its onus and setting aside CIT(A)'s deletion. Interest claimed on the loan from a purported lender was disallowed as business expenditure because the principal was held to be an unexplained/sham cash credit. Consequently interest pertaining to loans received in AY 2012-13 (reflected in AY 2013-14) is disallowed; interest relating to earlier-year loans upheld by a Coordinate Bench remains undisturbed. Grounds of Revenue's appeal were allowed partly/wholly as stated. en-us Fri, 26 Sep 2025 00:00:00 +0530 Mon, 10 Nov 2025 08:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=780990 ITAT MUMBAI (AT) restored the AO's addition of Rs.25,00,000 as unexplained cash credit under s.68, finding the assessee failed to discharge its onus and setting aside CIT(A)'s deletion. Interest claimed on the loan from a purported lender was disallowed as business expenditure because the principal was held to be an unexplained/sham cash credit. Consequently interest pertaining to loans received in AY 2012-13 (reflected in AY 2013-14) is disallowed; interest relating to earlier-year loans upheld by a Coordinate Bench remains undisturbed. Grounds of Revenue's appeal were allowed partly/wholly as stated. Case-Laws Income Tax Fri, 26 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=780990