https://www.taxtmi.com/caselaws?id=471815 Verified creditor confirmations, tax returns, bank statements, banking-channel payments and disclosed interest establish the identity, creditworthiness and genuineness of unsecured loans; once this primary burden is met, the source of source cannot be questioned without discrepancies. Interest disallowance does not arise where interest-free funds exceed advances and the advances finance machinery and land adjoining a factory for business purposes. Documentary evidence of director disputes, business disruption, illness and pandemic-related circumstances can establish sufficient cause for delayed filing. en-us Fri, 11 Apr 2025 00:00:00 +0530 Sat, 19 Sep 2026 08:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471815 Verified creditor confirmations, tax returns, bank statements, banking-channel payments and disclosed interest establish the identity, creditworthiness and genuineness of unsecured loans; once this primary burden is met, the source of source cannot be questioned without discrepancies. Interest disallowance does not arise where interest-free funds exceed advances and the advances finance machinery and land adjoining a factory for business purposes. Documentary evidence of director disputes, business disruption, illness and pandemic-related circumstances can establish sufficient cause for delayed filing. Case-Laws Income Tax Fri, 11 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471815