https://www.taxtmi.com/caselaws?id=784833 Specified Bank Notes collected from members toward loan liabilities were treated as explained receipts where member-wise details, loan accounts, and the nexus between cash receipts and repayment obligations were produced. The assessee, a primary co-operative society eligible for Section 80P deduction, showed the identity of the depositors and the source and purpose of the receipts before the Assessing Officer. On those facts, the amounts were found to be repayments or adjustments against members' liabilities, not unaccounted income, and the addition was deleted. en-us Wed, 30 Apr 2025 00:00:00 +0530 Tue, 13 Jan 2026 08:29:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784833 Specified Bank Notes collected from members toward loan liabilities were treated as explained receipts where member-wise details, loan accounts, and the nexus between cash receipts and repayment obligations were produced. The assessee, a primary co-operative society eligible for Section 80P deduction, showed the identity of the depositors and the source and purpose of the receipts before the Assessing Officer. On those facts, the amounts were found to be repayments or adjustments against members' liabilities, not unaccounted income, and the addition was deleted. Case-Laws Income Tax Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784833