https://www.taxtmi.com/caselaws?id=785661 Dispute concerns allowance of interest expenditure against interest income under the head "Income from Other Sources". The decision applies the intention-and-nexus test: because borrowings were used to advance loans that generated taxable interest and confirmations, ledgers and computations establish a proximate nexus, the deduction cannot be denied merely for want of documentary linkage when genuineness was not impeached. The appellate rejection based on conjecture despite admitted additional evidence and an unchallenging remand report was found unsustainable, resulting in allowance of the claim. en-us Tue, 27 Jan 2026 00:00:00 +0530 Thu, 29 Jan 2026 09:51:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785661 Dispute concerns allowance of interest expenditure against interest income under the head "Income from Other Sources". The decision applies the intention-and-nexus test: because borrowings were used to advance loans that generated taxable interest and confirmations, ledgers and computations establish a proximate nexus, the deduction cannot be denied merely for want of documentary linkage when genuineness was not impeached. The appellate rejection based on conjecture despite admitted additional evidence and an unchallenging remand report was found unsustainable, resulting in allowance of the claim. Case-Laws Income Tax Tue, 27 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785661