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Cash Credit u/s 68 - The cash realized on making the cash sales was deposited into the bank accounts of other persons and cheques were received. Those cheques were credited against the debtors. In our view, the above said procedure would not give rise to any gain as assumed by the Ld CIT(A). - Tri

Income Tax - Cash Credit u/s 68 - The cash realized on making the cash sales was deposited into the bank accounts of other persons and cheques were received. Those cheques were credited against the debtors. In our view, the above said procedure would not give rise to any gain as assumed by the Ld CIT(A). - Tri - TMI Updates - Highlights .....

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