https://www.taxtmi.com/caselaws?id=328406 The High Court dismissed the appeal, stating that Section 68 did not apply in this case. The judgment supported the ITAT's finding of factual evidence on advance receipts and rejected the notion of a bogus liability. The parties were directed to bear their own costs, and the appeal was resolved in favor of the assessee. en-us Tue, 17 May 2016 00:00:00 +0530 Fri, 03 Jun 2016 12:09:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328406 The High Court dismissed the appeal, stating that Section 68 did not apply in this case. The judgment supported the ITAT's finding of factual evidence on advance receipts and rejected the notion of a bogus liability. The parties were directed to bear their own costs, and the appeal was resolved in favor of the assessee. Case-Laws Income Tax Tue, 17 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328406