https://www.taxtmi.com/caselaws?id=789278 Trade credits in the assessee's books, where the source, identity and creditworthiness of creditors were not satisfactorily proved, were taxable as unexplained income under section 68 because the unexplained balance had no proved nexus with business income. As the assessee failed to establish that the credited sums were income derived from the eligible business, those amounts could not be included in profits for deduction under sections 80-IA(4) or 80-IB. The assessment treating the unexplained trade credits as taxable income was therefore sustained. en-us Thu, 02 Apr 2026 00:00:00 +0530 Mon, 06 Apr 2026 08:51:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789278 Trade credits in the assessee's books, where the source, identity and creditworthiness of creditors were not satisfactorily proved, were taxable as unexplained income under section 68 because the unexplained balance had no proved nexus with business income. As the assessee failed to establish that the credited sums were income derived from the eligible business, those amounts could not be included in profits for deduction under sections 80-IA(4) or 80-IB. The assessment treating the unexplained trade credits as taxable income was therefore sustained. Case-Laws Income Tax Thu, 02 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789278