TMI BlogUnexplained credit under Section 68 - The transaction must be looked at in entirety including events...Unexplained credit under Section 68 - The transaction must be looked at in entirety including events that have transpired in the subsequent years. That is to say that the proper facts in regard to whether the advertisement advances had indeed been received in AY 2011-12 and utilized for repayment of the loans must be looked into by the Assessing Officer in order to determine the veracity of the additions under Section 68 - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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