https://www.taxtmi.com/caselaws?id=170795 HC upheld deletion of the addition made under s. 68 for unexplained cash credits in the case of a partnership firm executing civil contracts. The AO had already rejected the books under s. 145(3) and applied a higher profit rate on total contract receipts. HC held that once income is determined on an estimated basis after such rejection, separate additions for unexplained cash credits under s. 68 are impermissible. Agreeing with CIT(A) and Tribunal, HC found no substantial question of law and dismissed the revenue's appeal. en-us Wed, 28 Jan 2009 00:00:00 +0530 Sat, 22 Nov 2025 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170795 HC upheld deletion of the addition made under s. 68 for unexplained cash credits in the case of a partnership firm executing civil contracts. The AO had already rejected the books under s. 145(3) and applied a higher profit rate on total contract receipts. HC held that once income is determined on an estimated basis after such rejection, separate additions for unexplained cash credits under s. 68 are impermissible. Agreeing with CIT(A) and Tribunal, HC found no substantial question of law and dismissed the revenue's appeal. Case-Laws Income Tax Wed, 28 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170795