https://www.taxtmi.com/caselaws?id=799299 Section 68 does not permit an admitted advance received in financial year 2006-07 to be assessed as an unexplained cash credit in assessment year 2016-17. A subsequent land-sale transaction allegedly structured to obtain a capital-loss set-off may indicate tax avoidance, but cannot alter the year in which the advance was received or became taxable. Any alleged avoidance must be addressed through other applicable statutory measures rather than by treating the historic advance as a fresh unexplained cash credit. en-us Tue, 18 Aug 2026 00:00:00 +0530 Sat, 19 Sep 2026 08:20:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799299 Section 68 does not permit an admitted advance received in financial year 2006-07 to be assessed as an unexplained cash credit in assessment year 2016-17. A subsequent land-sale transaction allegedly structured to obtain a capital-loss set-off may indicate tax avoidance, but cannot alter the year in which the advance was received or became taxable. Any alleged avoidance must be addressed through other applicable statutory measures rather than by treating the historic advance as a fresh unexplained cash credit. Case-Laws Income Tax Tue, 18 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799299