https://www.taxtmi.com/caselaws?id=787027 Whether an interest disallowance can stand where the assessee established identity, creditworthiness and genuineness of earlier-year loans: the tribunal applied the principle that contemporaneous documentary evidence (affidavits, confirmations, ITR acknowledgements, ledgers, bank statements) and recorded repayments satisfy the onus to explain source and genuineness, and where no additions were made to the underlying loan amounts and revenue produced no cogent rebuttal, the interest disallowance is unsustainable and was deleted in favour of the assessee. en-us Mon, 22 Sep 2025 00:00:00 +0530 Wed, 25 Feb 2026 07:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787027 Whether an interest disallowance can stand where the assessee established identity, creditworthiness and genuineness of earlier-year loans: the tribunal applied the principle that contemporaneous documentary evidence (affidavits, confirmations, ITR acknowledgements, ledgers, bank statements) and recorded repayments satisfy the onus to explain source and genuineness, and where no additions were made to the underlying loan amounts and revenue produced no cogent rebuttal, the interest disallowance is unsustainable and was deleted in favour of the assessee. Case-Laws Income Tax Mon, 22 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787027