Loans and Interest Payment Accepted in Past Years Cannot Be Disputed Without Fresh Grounds: ITAT Deletes Additions [Read Order]
The ITAT deleted the interest addition, ruling it genuine due to the prior year's acceptance and no incriminating evidence.
By Nandan GK - On May 10, 2025 1:09 pm - 2 mins read
The Kolkata Bench of the Income Tax Appellate Tribunal ( ITAT ) held that interest paid on a loan cannot be disallowed merely based on suspicion. The tribunal found the addition unjustified since the payment had been accepted in earlier years, and no fresh evidence was brought on record to question its genuineness. Read More:…
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