https://www.taxtmi.com/caselaws?id=801163 Section 68 applies only to sums credited during the relevant year that remain unexplained. A repayment is not a fresh credit, and an opening balance, repayment transactions and recovery of an advance do not constitute unexplained current-year credits. Banking records evidencing fund movement and the loan support the credit's explanation, rendering the cash-credit additions unsustainable. Discount expenditure in a cotton business is allowable where ledger records establish that it arose from samples, weight shortages and quality issues, was consistently incurred across years, and was proportionate to sales. The discount disallowance was therefore deleted. en-us Tue, 29 Sep 2026 00:00:00 +0530 Fri, 16 Oct 2026 05:20:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=801163 Section 68 applies only to sums credited during the relevant year that remain unexplained. A repayment is not a fresh credit, and an opening balance, repayment transactions and recovery of an advance do not constitute unexplained current-year credits. Banking records evidencing fund movement and the loan support the credit's explanation, rendering the cash-credit additions unsustainable. Discount expenditure in a cotton business is allowable where ledger records establish that it arose from samples, weight shortages and quality issues, was consistently incurred across years, and was proportionate to sales. The discount disallowance was therefore deleted. Case-Laws Income Tax Tue, 29 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=801163