https://www.taxtmi.com/caselaws?id=28239 The court ruled in favor of the assessee and against the Revenue. It held that sales tax liability should not be excluded from the gross turnover to determine gross profit. Additionally, it determined that Section 68 of the Income-tax Act, 1961, does not apply to cash credits from accounting years before the relevant assessment year. The court awarded costs to the assessee, including a hearing fee of Rs. 250. en-us Tue, 22 Mar 1983 00:00:00 +0530 Fri, 19 Feb 2010 18:24:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28239 The court ruled in favor of the assessee and against the Revenue. It held that sales tax liability should not be excluded from the gross turnover to determine gross profit. Additionally, it determined that Section 68 of the Income-tax Act, 1961, does not apply to cash credits from accounting years before the relevant assessment year. The court awarded costs to the assessee, including a hearing fee of Rs. 250. Case-Laws Income Tax Tue, 22 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28239