https://www.taxtmi.com/caselaws?id=785157 Assessees redeposit of demonetised SBNs traced to earlier October cash withdrawals was accepted as explaining unexplained credit, based on bank statements, audited accounts and cash book, resulting in deletion of additions under unexplained credit. Amounts older than three years were not treated as extinguished liabilities merely by lapse of time; limitation alone does not bring sums within write-back principles absent release or admission of discharge by creditors, leading to deletion of additions under obsolete credits. Disallowance of expenses was found to be erroneous on remand and deleted where the assessing officer conceded error. Departmental appeal dismissed. en-us Wed, 26 Nov 2025 00:00:00 +0530 Wed, 14 Jan 2026 18:23:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785157 Assessees redeposit of demonetised SBNs traced to earlier October cash withdrawals was accepted as explaining unexplained credit, based on bank statements, audited accounts and cash book, resulting in deletion of additions under unexplained credit. Amounts older than three years were not treated as extinguished liabilities merely by lapse of time; limitation alone does not bring sums within write-back principles absent release or admission of discharge by creditors, leading to deletion of additions under obsolete credits. Disallowance of expenses was found to be erroneous on remand and deleted where the assessing officer conceded error. Departmental appeal dismissed. Case-Laws Income Tax Wed, 26 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785157