https://www.taxtmi.com/caselaws?id=246048 The Court dismissed the appeal, finding that the entries in the assessee's accounts did not qualify as cash credits under Section 68 of the Income Tax Act, 1961. It upheld the Tribunal's decision that the assessee acted as a conduit without incurring any repayment obligations, thus not meeting the criteria for cash credits. The Court emphasized the importance of aligning factual findings with legal provisions in tax matters and concluded that no substantial question of law arose from the case, ultimately dismissing the appeal for lacking merit. en-us Wed, 02 Apr 2014 00:00:00 +0530 Tue, 15 Apr 2014 10:13:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246048 The Court dismissed the appeal, finding that the entries in the assessee's accounts did not qualify as cash credits under Section 68 of the Income Tax Act, 1961. It upheld the Tribunal's decision that the assessee acted as a conduit without incurring any repayment obligations, thus not meeting the criteria for cash credits. The Court emphasized the importance of aligning factual findings with legal provisions in tax matters and concluded that no substantial question of law arose from the case, ultimately dismissing the appeal for lacking merit. Case-Laws Income Tax Wed, 02 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246048