https://www.taxtmi.com/caselaws?id=327869 The Tribunal allowed the appeal of the assessee, setting aside the addition of Rs. 36,50,036/- as unexplained cash credit under Section 68 of the Income-tax Act. The Tribunal considered the non-recovery of the loan dues as a business loss from the money lending activity, offsetting income from other sources. This decision rendered the addition revenue neutral, resulting in the negation of the Assessing Officer's addition. en-us Fri, 08 Apr 2016 00:00:00 +0530 Sat, 21 May 2016 12:39:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327869 The Tribunal allowed the appeal of the assessee, setting aside the addition of Rs. 36,50,036/- as unexplained cash credit under Section 68 of the Income-tax Act. The Tribunal considered the non-recovery of the loan dues as a business loss from the money lending activity, offsetting income from other sources. This decision rendered the addition revenue neutral, resulting in the negation of the Assessing Officer's addition. Case-Laws Income Tax Fri, 08 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327869