https://www.taxtmi.com/acts?id=40485 A new proviso to the cash credits rule provides that where a credited sum consists of loan or borrowing, the assessee's explanation is to be deemed unsatisfactory unless the person in whose name the credit is recorded also offers an explanation about the nature and source of the sum and that explanation is found satisfactory in the opinion of the Assessing Officer. en-us Tue, 01 Feb 2022 14:53:09 +0530 Tue, 01 Feb 2022 14:53:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40485 A new proviso to the cash credits rule provides that where a credited sum consists of loan or borrowing, the assessee's explanation is to be deemed unsatisfactory unless the person in whose name the credit is recorded also offers an explanation about the nature and source of the sum and that explanation is found satisfactory in the opinion of the Assessing Officer. Act-Rules Bills Tue, 01 Feb 2022 14:53:09 +0530 https://www.taxtmi.com/acts?id=40485