https://www.taxtmi.com/caselaws?id=18132 The court ruled in favor of the assessee, holding that section 68 of the Income-tax Act, 1961 was not applicable to the case concerning cash credits. The court emphasized the requirement of maintaining books of account by the assessee individually for the section to apply, distinguishing individual books from those of a partnership firm. The decision favored the assessee over the Revenue, with no costs directed in this matter. en-us Tue, 20 Aug 1996 00:00:00 +0530 Tue, 29 Sep 2009 10:21:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18132 The court ruled in favor of the assessee, holding that section 68 of the Income-tax Act, 1961 was not applicable to the case concerning cash credits. The court emphasized the requirement of maintaining books of account by the assessee individually for the section to apply, distinguishing individual books from those of a partnership firm. The decision favored the assessee over the Revenue, with no costs directed in this matter. Case-Laws Income Tax Tue, 20 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18132