https://www.taxtmi.com/caselaws?id=800563 Section 68 requires the nature and source of each credit to be established through supporting evidence. Non-response to information notices is not conclusive where confirmations, banking records, repayment evidence, or other substantive material supports the credit, and credits from an earlier year should not be assessed in the relevant year. Taxability of a sale receipt requires verification of whether it was already offered to tax. Corpus and purchaser-related deposits cannot be treated as unexplained income merely because they are recorded as liabilities or retained; purchaser-wise agreements, ledgers, receipt modes, and subsequent treatment require examination. Unsupported notional-interest additions cannot substitute for evidence of actual income. en-us Wed, 23 Sep 2026 00:00:00 +0530 Thu, 08 Oct 2026 08:45:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800563 Section 68 requires the nature and source of each credit to be established through supporting evidence. Non-response to information notices is not conclusive where confirmations, banking records, repayment evidence, or other substantive material supports the credit, and credits from an earlier year should not be assessed in the relevant year. Taxability of a sale receipt requires verification of whether it was already offered to tax. Corpus and purchaser-related deposits cannot be treated as unexplained income merely because they are recorded as liabilities or retained; purchaser-wise agreements, ledgers, receipt modes, and subsequent treatment require examination. Unsupported notional-interest additions cannot substitute for evidence of actual income. Case-Laws Income Tax Wed, 23 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800563