Bombay High Court’s Judgement on Section 68 of the Income Tax Act: Ivan Singh vs ACIT

COURT: Bombay High Court (Goa Bench)

CORAM: M. S. Jawalkar J, M. S. Sonak J


GENRE: Domestic Tax

CATCH WORDS: Section 68 cash credit

COUNSEL: Dr. P. Daniel

DATE: February 14, 2020 (Date of pronouncement)

DATE: February 24, 2020 (Date of publication)

AY: 2008-09


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Section 68- Bogus Cash Credits: The expression “any previous year” does not mean all previous years but the previous year in relation to the assessment year concerned. If the cash credits are credited in the FY 2006-07, it cannot be brought to tax in a later AY.

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