Interest Disallowance Set Aside as Loan Found Genuine

KTM Impex Private Limited Vs ITO (ITAT Delhi) Repaid Loan Cannot Be Treated as Bogus: Delhi ITAT Deletes ₹50 Lakh Addition Based on Entry-Operator Information The Delhi Bench of the ITAT allowed the appeal of KTM Impex Pvt. Ltd. (AY 2019-20) and deleted the addition of ₹50 lakh under section 68 along with interest disallowance of ₹5.45 lakh. The reassessment was initiated solely on Investigation Wing inputs alleging accommodation entries from an entity linked to an entry operator. The Tribunal held that mere third-party information and suspicion cannot override documentary evidence. The ...