https://www.taxtmi.com/caselaws?id=797552 Section 68 requires identification of a specific unexplained credit; reconciled capital movements and cash deposits recorded in audited accounts from disclosed professional receipts cannot be treated as unexplained without identified defects or cash deficits. Property received on partition of a Hindu undivided family takes the previous owner's cost and holding period, allowing indexed cost computation. Resulting eligible long-term capital loss may be set off against qualifying long-term capital gains and carried forward subject to statutory restrictions. Registered sale consideration received through banking channels, supported by the conveyance and tax-deduction trail and accepted for capital-gains computation, should not also be assessed as an unexplained credit absent evidence of a sham or recycled funds. en-us Mon, 17 Aug 2026 00:00:00 +0530 Mon, 24 Aug 2026 08:33:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797552 Section 68 requires identification of a specific unexplained credit; reconciled capital movements and cash deposits recorded in audited accounts from disclosed professional receipts cannot be treated as unexplained without identified defects or cash deficits. Property received on partition of a Hindu undivided family takes the previous owner's cost and holding period, allowing indexed cost computation. Resulting eligible long-term capital loss may be set off against qualifying long-term capital gains and carried forward subject to statutory restrictions. Registered sale consideration received through banking channels, supported by the conveyance and tax-deduction trail and accepted for capital-gains computation, should not also be assessed as an unexplained credit absent evidence of a sham or recycled funds. Case-Laws Income Tax Mon, 17 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797552