Tribunal held that, since payment of interest was reflected in capital account and same was shown as a part of other withdrawal- Addition cannot be made as unexplained expenditure. (AY. 2007-08)
Geeta Dubey (Smt.) v. ITO (2018) 172 ITD 538 (Indore) (Trib.)
S. 69C : Unexplained expenditure-Interest on loan-Since payment of interest was reflected in capital account and same was shown as a part of other withdrawal-Addition cannot be made as unexplained expenditure.