https://www.taxtmi.com/caselaws?id=792896 Addition under section 68 for unsecured loans is discussed as unsustainable where the same amounts were later forfeited and offered to tax in a subsequent assessment year. The assessee's later year profit and loss account and computation showed that the receipts had already been included as other income, so taxing them again in the year of borrowing would create double taxation. On those facts, the earlier year addition was deleted because the revenue was not deprived of tax and the same sum could not be brought to tax twice. en-us Fri, 15 May 2026 00:00:00 +0530 Fri, 05 Jun 2026 08:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792896 Addition under section 68 for unsecured loans is discussed as unsustainable where the same amounts were later forfeited and offered to tax in a subsequent assessment year. The assessee's later year profit and loss account and computation showed that the receipts had already been included as other income, so taxing them again in the year of borrowing would create double taxation. On those facts, the earlier year addition was deleted because the revenue was not deprived of tax and the same sum could not be brought to tax twice. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792896