Business losses cannot offset unexplained cash credits taxed u/s 68, which are treated as taxable income.

Business losses cannot offset unexplained cash credits taxed u/s 68, which are treated as taxable income. https://www.taxtmi.com/highlights?id=4948 Business loss assessed by the AO cannot be set off against the amount taxed u/s 68 as unexplained cash credits taxed under section 68 cannot be pegged to any head of income- - AT en-us Fri, 24 Aug 2012 05:56:42 +0530 Fri, 24 Aug 2012 05:56:42 +0530 TaxTMI RSS Generator Business losses cannot offset unexplained cash credits taxed u/s 68, which are treated as taxable income. https://www.taxtmi.com/highlights?id=4948 Business loss assessed by the AO cannot be set off against the amount taxed u/s 68 as unexplained cash credits taxed under section 68 cannot be pegged to any head of income- - AT Highlights Income Tax Fri, 24 Aug 2012 05:56:42 +0530 https://www.taxtmi.com/highlights?id=4948