Section 68: Demonstrating returned funds next year clarifies loans, preventing unexplained cash credit issues and legal challenges.

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Full Text of the Document

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....Unexplained cash credit under section 68 - Once the assessee is able to prove that the money received by it was returned in the subsequent assessment year in the account of the party, then there remains no doubt that the loan and advances received by the assessee were not unexplained cash credit.....