https://www.taxtmi.com/caselaws?id=800596 Unsecured loan credits require proof of creditor identity, creditworthiness and transaction genuineness; banking-channel records and supporting financial documents can satisfy those requirements absent evidence of accommodation entries or the taxpayer's own money. Interest disallowance for non-business diversion requires a direct nexus between specific borrowings and non-business use, particularly where interest-free funds cover disputed deployments. Borrowing-related expenses cannot be disallowed proportionately without proof of such diversion. Reconciled tax-credit-statement receipts already recorded as income cannot be taxed again. Exempt-income disallowance requires recorded dissatisfaction based on accounts, and the investment base must exclude investments yielding no positive exempt income; prior voluntary disallowance requires verification. en-us Mon, 28 Sep 2026 00:00:00 +0530 Thu, 08 Oct 2026 08:45:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800596 Unsecured loan credits require proof of creditor identity, creditworthiness and transaction genuineness; banking-channel records and supporting financial documents can satisfy those requirements absent evidence of accommodation entries or the taxpayer's own money. Interest disallowance for non-business diversion requires a direct nexus between specific borrowings and non-business use, particularly where interest-free funds cover disputed deployments. Borrowing-related expenses cannot be disallowed proportionately without proof of such diversion. Reconciled tax-credit-statement receipts already recorded as income cannot be taxed again. Exempt-income disallowance requires recorded dissatisfaction based on accounts, and the investment base must exclude investments yielding no positive exempt income; prior voluntary disallowance requires verification. Case-Laws Income Tax Mon, 28 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800596