COURT: Bombay High Court (Goa Bench)
CORAM: M. S. Jawalkar J, M. S. Sonak J
SECTION(S): 68
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
CITATION:
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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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