https://www.taxtmi.com/caselaws?id=787038 Section 68 applies to unexplained cash credits from creditors or investors, rather than service revenue recorded in audited accounts and offered to tax; treating such receipts as unexplained credits would duplicate taxation. Recorded trade payables representing future liabilities do not constitute cash credits, and an addition requires proper notice. Section 69C applies only where incurred expenditure has an unsatisfactorily explained source; a computational omission or misclassification of recorded payments does not make the expenditure unexplained. On these principles, the disputed additions relating to service revenue, trade payables and recorded payments were deleted, while interest and penalty issues remained consequential. en-us Mon, 23 Feb 2026 00:00:00 +0530 Wed, 25 Feb 2026 07:26:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787038 Section 68 applies to unexplained cash credits from creditors or investors, rather than service revenue recorded in audited accounts and offered to tax; treating such receipts as unexplained credits would duplicate taxation. Recorded trade payables representing future liabilities do not constitute cash credits, and an addition requires proper notice. Section 69C applies only where incurred expenditure has an unsatisfactorily explained source; a computational omission or misclassification of recorded payments does not make the expenditure unexplained. On these principles, the disputed additions relating to service revenue, trade payables and recorded payments were deleted, while interest and penalty issues remained consequential. Case-Laws Income Tax Mon, 23 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787038