https://www.taxtmi.com/caselaws?id=195686 The Tribunal allowed the appeals for the assessment years 2006-07 and 2007-08, setting aside the lower authorities' decisions and deleting the additions made under Section 68 of the Income-tax Act for unexplained credits/loans. The Tribunal considered the nature of the business activities, the timing of cash credits, and the lack of commercial production to conclude that the cash credits were capital receipts rather than taxable income. en-us Wed, 21 Oct 2015 00:00:00 +0530 Tue, 07 Nov 2017 19:33:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195686 The Tribunal allowed the appeals for the assessment years 2006-07 and 2007-08, setting aside the lower authorities' decisions and deleting the additions made under Section 68 of the Income-tax Act for unexplained credits/loans. The Tribunal considered the nature of the business activities, the timing of cash credits, and the lack of commercial production to conclude that the cash credits were capital receipts rather than taxable income. Case-Laws Income Tax Wed, 21 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195686