https://www.taxtmi.com/caselaws?id=470888 Unexplained cash credit for Assessment Year 2017-18 was not sustained because the unsecured-loan agreement was executed in financial year 2017-18, relevant to Assessment Year 2018-19. Contractual rights and liabilities arose only on execution of that agreement, and the related interest income was declared in the subsequent year. The March 2017 cheque date alone did not establish that the loan transaction accrued during the assessment year under review. The cash-credit addition was therefore deleted in favour of the NBFC assessee. en-us Thu, 27 Mar 2025 00:00:00 +0530 Wed, 12 Aug 2026 21:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470888 Unexplained cash credit for Assessment Year 2017-18 was not sustained because the unsecured-loan agreement was executed in financial year 2017-18, relevant to Assessment Year 2018-19. Contractual rights and liabilities arose only on execution of that agreement, and the related interest income was declared in the subsequent year. The March 2017 cheque date alone did not establish that the loan transaction accrued during the assessment year under review. The cash-credit addition was therefore deleted in favour of the NBFC assessee. Case-Laws Income Tax Thu, 27 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470888