Addition u/s 68 of Income Tax Act can be made for Cash Credits Received by Assessee in its Account during the year Relevant to AY: ITAT [Read Order]

Addition - Income Tax Act - Cash Credits - Assessee - Account - year Relevant - AY-ITAT-TAXSCAN

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) held that additions under Section 68 of Income Tax Act,1961 would be made for the cash credits received by an assessee in its accounts during the year relevant to Assessment Year (AY). The assessee Shaktigarh Textile and Industries Limited has filed its return of income at…

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