Unexplained credit found in books of account chargeable to tax in previous year to which it relates: HC

INCOME TAX : Where Assessing Officer invoking provisions of section 68 added outstanding sundry credit balance found in account books of assessee for financial year 2006-07 to income of assessee for assessment year 2009-10, aforesaid credit balance could not be brought to tax as income of assessee for assessment year 2009-10

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