https://www.taxtmi.com/caselaws?id=21166 HC held that unexplained cash credits standing in the assessee-company's tea garden books, being its regular business books, were assessable as income from its tea business. Relying on prior precedent on identical facts for an earlier assessment year, the court accepted that continuous cash credits in the business accounts of an undertaking whose primary activity is cultivation, manufacture and sale of tea must be characterized as business income when brought to tax under section 68. The reframed question was answered in the affirmative, in favour of the assessee and against the Revenue. en-us Thu, 09 Aug 1990 00:00:00 +0530 Thu, 04 Dec 2025 17:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21166 HC held that unexplained cash credits standing in the assessee-company's tea garden books, being its regular business books, were assessable as income from its tea business. Relying on prior precedent on identical facts for an earlier assessment year, the court accepted that continuous cash credits in the business accounts of an undertaking whose primary activity is cultivation, manufacture and sale of tea must be characterized as business income when brought to tax under section 68. The reframed question was answered in the affirmative, in favour of the assessee and against the Revenue. Case-Laws Income Tax Thu, 09 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21166