The Supreme Court has held that income credited in the business books with respect to which the assessee fails to prove satisfactorily the source and the nature of receipt of the amount, shall be deemed to be receipts from business. The undisclosed income assessed under section 68 of the Income-tax Act, 1961 need not be treated as income falling totally outside the ambit of the classifications contained in section 14. Section 115BBE had prohibited allowance of deductions alone, as it stood prior to the amendment with effect from April 1, 2017. The provision was amended with effect from April 1, 2017. The amendment has been made to expressly provide that no set-off of any loss shall be allowable in respect of income under S. 68 or S 69 or S. 69A or section or S. 69C or S. 69D. The intention of the Legislature in introducing the amendment, as stated in the Explanatory Notes, is to avoid unnecessary litigation and to expressly provide that no set-off of any loss shall be allowable in respect of income under S.  68. Prior to the amendment no bar existed with respect to allowing set-off against the carried forward unabsorbed depreciation on fixed assets, with respect to income under S.68. Accordingly, that the assessee was entitled to set off of carried forward unabsorbed depreciation against income assessed under S.  68 for the AY. 2013-14.  (Lakshmichand Baijnath v CIT ( 1959) 35 ITR 416 (SC) A. Govindarajulu mudaliar v CIT (1958) 34 ITR 807 (SC)  ( 2017) 391 ITR 253(St) (312) (AY. 2013-14)