https://www.taxtmi.com/caselaws?id=12308 The High Court remanded the case back to the Tribunal for a fresh decision, emphasizing the discretionary nature of section 68 regarding unexplained cash credits. The Tribunal's decision was criticized for not adequately considering the specific circumstances of the assessee and for failing to apply the Supreme Court precedents emphasizing the discretionary power of the Income-tax Officer in treating unexplained investments as income. The Tribunal was directed to reassess the case in light of the Supreme Court judgments mentioned. en-us Thu, 06 Sep 2001 00:00:00 +0530 Fri, 17 Mar 2017 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12308 The High Court remanded the case back to the Tribunal for a fresh decision, emphasizing the discretionary nature of section 68 regarding unexplained cash credits. The Tribunal's decision was criticized for not adequately considering the specific circumstances of the assessee and for failing to apply the Supreme Court precedents emphasizing the discretionary power of the Income-tax Officer in treating unexplained investments as income. The Tribunal was directed to reassess the case in light of the Supreme Court judgments mentioned. Case-Laws Income Tax Thu, 06 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12308