https://www.taxtmi.com/caselaws?id=36335 The High Court of Punjab and Haryana addressed the assessment of cash credits in the account books for the assessment year 1967-68. The court upheld the Additional Commissioner of Income Tax's decision to set aside the Income Tax Officer's order and direct a fresh assessment, emphasizing the importance of proper evidence to link the cash credits to the assessee. The court highlighted the wide powers of the Appellate Assistant Commissioner under section 251 of the Income-tax Act to remand cases for fresh assessments when necessary, ultimately ruling in favor of the revenue and supporting the need for proper evidence in assessments. en-us Tue, 13 Jan 1981 00:00:00 +0530 Sat, 20 Mar 2010 17:22:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36335 The High Court of Punjab and Haryana addressed the assessment of cash credits in the account books for the assessment year 1967-68. The court upheld the Additional Commissioner of Income Tax's decision to set aside the Income Tax Officer's order and direct a fresh assessment, emphasizing the importance of proper evidence to link the cash credits to the assessee. The court highlighted the wide powers of the Appellate Assistant Commissioner under section 251 of the Income-tax Act to remand cases for fresh assessments when necessary, ultimately ruling in favor of the revenue and supporting the need for proper evidence in assessments. Case-Laws Income Tax Tue, 13 Jan 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36335