https://www.taxtmi.com/caselaws?id=12198 Section 68 of the Income-tax Act was held inapplicable where a partner's credit entry represented capital contribution supported by evidence that the amount had been paid before the firm commenced business towards licence fee and security deposit with the Government. On those facts, the Tribunal accepted the partner's explanation from the material on record and treated the entry as not constituting a cash credit in the sense contemplated by section 68. The finding was characterised as a pure finding of fact, and the addition was rightly deleted in favour of the assessee. en-us Tue, 06 Aug 2002 00:00:00 +0530 Fri, 19 Feb 2010 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12198 Section 68 of the Income-tax Act was held inapplicable where a partner's credit entry represented capital contribution supported by evidence that the amount had been paid before the firm commenced business towards licence fee and security deposit with the Government. On those facts, the Tribunal accepted the partner's explanation from the material on record and treated the entry as not constituting a cash credit in the sense contemplated by section 68. The finding was characterised as a pure finding of fact, and the addition was rightly deleted in favour of the assessee. Case-Laws Income Tax Tue, 06 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12198