https://www.taxtmi.com/caselaws?id=792848 Alleged undisclosed interest income on a loan advanced to a third party was held unsustainable where the seized papers only showed a 24% interest working and not actual receipt. The assessee denied earning such interest, the borrower was in financial difficulty, and the principal was ultimately adjusted through transfer of property. As the remand direction to verify the borrower was not met with adequate evidence of accrual or receipt, the addition was treated as based on presumption rather than proof and was deleted in favour of the assessee. en-us Tue, 02 Jun 2026 00:00:00 +0530 Thu, 04 Jun 2026 08:37:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792848 Alleged undisclosed interest income on a loan advanced to a third party was held unsustainable where the seized papers only showed a 24% interest working and not actual receipt. The assessee denied earning such interest, the borrower was in financial difficulty, and the principal was ultimately adjusted through transfer of property. As the remand direction to verify the borrower was not met with adequate evidence of accrual or receipt, the addition was treated as based on presumption rather than proof and was deleted in favour of the assessee. Case-Laws Income Tax Tue, 02 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792848