Reasonable loan explanation accepted; Interest deduction allowed.

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....The Income Tax Appellate Tribunal held that the assessee had reasonably discharged its onus to explain the loan credit by adducing proper legal evidence. The loan amount received from M/s. Abhilasha Shoppers Pvt. Ltd. was verifiable from the financial statements, TDS certificates, and bank statements. The repayment of loan along with interest was made through proper banking channels. The general statements recorded by the Investigation Wing were not specific to the assessee's case. Consequently, the Tribunal set aside the additions made u/s 68 and allowed the deduction of interest paid on the loan, following the decision in M/s. Vibrant Global Capital Ltd.....