https://www.taxtmi.com/caselaws?id=4566 HC dismissed Revenue's appeal, upholding the Tribunal and CIT(A). The court found that the impugned addition under s.68 was unjustified because the credit balance in the assessee's accounts did not pertain to the assessment year; absence of explanation regarding the source/character of the cash credit and failure to establish that the advance related to breeding charges did not cure that defect. Consequently, the AO's addition was set aside and the assessment reduced accordingly. en-us Fri, 14 Mar 2008 00:00:00 +0530 Fri, 03 Oct 2025 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4566 HC dismissed Revenue's appeal, upholding the Tribunal and CIT(A). The court found that the impugned addition under s.68 was unjustified because the credit balance in the assessee's accounts did not pertain to the assessment year; absence of explanation regarding the source/character of the cash credit and failure to establish that the advance related to breeding charges did not cure that defect. Consequently, the AO's addition was set aside and the assessment reduced accordingly. Case-Laws Income Tax Fri, 14 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4566