https://www.taxtmi.com/caselaws?id=470337 Interest on unsecured loans claimed on an accrual basis is described as allowable where the liability has accrued on a reasonable basis; actual payment in the relevant year is not required. The note also states that an addition for outstanding creditors is unsustainable when the principal creditor balance is supported by ledger confirmation that remains unrebutted, despite creditors not responding to notices. It records relief on the interest and outstanding-creditor additions, while noting that the discount-related ground was not decided on merits. en-us Wed, 19 Mar 2025 00:00:00 +0530 Thu, 23 Jul 2026 20:51:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470337 Interest on unsecured loans claimed on an accrual basis is described as allowable where the liability has accrued on a reasonable basis; actual payment in the relevant year is not required. The note also states that an addition for outstanding creditors is unsustainable when the principal creditor balance is supported by ledger confirmation that remains unrebutted, despite creditors not responding to notices. It records relief on the interest and outstanding-creditor additions, while noting that the discount-related ground was not decided on merits. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470337