No Disallowance on Proven Loan Use; Forecasting Expense Allowed as Business Cost – Aishwarya Bachchan Gest Relief

Aishwarya Rai Bachchan Vs DCIT (ITAT Mumbai) The appeal was filed against an order dated 16.06.2025 passed under Section 250 of the Income Tax Act, 1961 by the National Faceless Appeal Centre for Assessment Year 2020–21. The assessee challenged disallowances confirmed by the CIT(A), primarily relating to (i) interest expenditure under Section 57 and (ii) forecasting expenses treated as personal in nature. Regarding the first issue, the assessee had claimed interest expenditure of ₹1,49,52,658 on a loan taken from Deutsche Bank, asserting that the borrowed funds were used for investments in...