https://www.taxtmi.com/caselaws?id=795760 Section 68 is described as applying only to a real credit involving money, money's worth or an actual financial inflow; a notional journal entry transferring salary payable to partners' capital accounts, later reversed, does not by itself create unexplained income. The notes also state that remuneration to partners' relatives should not be disallowed as excessive without material, comparables or another basis showing that it exceeds the fair value of services rendered. Where identifiable partners confirm capital contributions, questions concerning source or creditworthiness are described as matters for their individual assessments rather than unexplained income of the firm. en-us Wed, 22 Jul 2026 00:00:00 +0530 Mon, 27 Jul 2026 08:27:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795760 Section 68 is described as applying only to a real credit involving money, money's worth or an actual financial inflow; a notional journal entry transferring salary payable to partners' capital accounts, later reversed, does not by itself create unexplained income. The notes also state that remuneration to partners' relatives should not be disallowed as excessive without material, comparables or another basis showing that it exceeds the fair value of services rendered. Where identifiable partners confirm capital contributions, questions concerning source or creditworthiness are described as matters for their individual assessments rather than unexplained income of the firm. Case-Laws Income Tax Wed, 22 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795760