https://www.taxtmi.com/caselaws?id=20495 Section 68 applies only where a real cash credit exists in the books and its nature and source remain unexplained. On the facts, the entries were found to be notional book adjustments among group concerns, with no actual passing of cash and no cash balance available for real advances or receipts. The surrounding circumstances showed a restructuring of liabilities in exchange for shares rather than an unexplained cash inflow. The result was that the amount was not treated as unexplained cash credit, and the addition as income from undisclosed sources was not sustained. en-us Thu, 06 Aug 1992 00:00:00 +0530 Fri, 24 Oct 2025 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20495 Section 68 applies only where a real cash credit exists in the books and its nature and source remain unexplained. On the facts, the entries were found to be notional book adjustments among group concerns, with no actual passing of cash and no cash balance available for real advances or receipts. The surrounding circumstances showed a restructuring of liabilities in exchange for shares rather than an unexplained cash inflow. The result was that the amount was not treated as unexplained cash credit, and the addition as income from undisclosed sources was not sustained. Case-Laws Income Tax Thu, 06 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20495