https://www.taxtmi.com/caselaws?id=469234 Interest paid on borrowed funds was treated as allowable where the loans and advances had already been accepted by the Revenue, the interest rate was undisputed, and search proceedings yielded no incriminating material against the expenditure for the year under appeal. On those facts, the interest payment to the lender could not be characterised as non-genuine, and the addition was deleted. en-us Tue, 04 Mar 2025 00:00:00 +0530 Wed, 10 Jun 2026 20:06:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469234 Interest paid on borrowed funds was treated as allowable where the loans and advances had already been accepted by the Revenue, the interest rate was undisputed, and search proceedings yielded no incriminating material against the expenditure for the year under appeal. On those facts, the interest payment to the lender could not be characterised as non-genuine, and the addition was deleted. Case-Laws Income Tax Tue, 04 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469234