https://www.taxtmi.com/caselaws?id=469592 Section 68 unsecured-loan addition required fresh verification because the creditor's financial capacity and source of funds were not properly examined, so the matter was remanded. Interest disallowance under section 36(1)(iii) was deleted because the assessee's own funds exceeded the interest-free advances, supporting the presumption that the advances came from own funds. Write-off of investment in preference shares of a subsidiary was treated as allowable business loss on commercial expediency grounds. No disallowance under section 14A was warranted in the absence of exempt income, and that disallowance could not be mechanically added to book profit under section 115JB. The unrecognized-sales adjustment under section 115JB was also remanded for fresh adjudication. en-us Tue, 29 Apr 2025 00:00:00 +0530 Tue, 23 Jun 2026 16:27:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469592 Section 68 unsecured-loan addition required fresh verification because the creditor's financial capacity and source of funds were not properly examined, so the matter was remanded. Interest disallowance under section 36(1)(iii) was deleted because the assessee's own funds exceeded the interest-free advances, supporting the presumption that the advances came from own funds. Write-off of investment in preference shares of a subsidiary was treated as allowable business loss on commercial expediency grounds. No disallowance under section 14A was warranted in the absence of exempt income, and that disallowance could not be mechanically added to book profit under section 115JB. The unrecognized-sales adjustment under section 115JB was also remanded for fresh adjudication. Case-Laws Income Tax Tue, 29 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469592