The question before the High Court was “ On the facts and in the circumstances of the case and in law, whether the Tribunal was right in sustaining the additions made of old outstanding sundry credit balances”  Allowing the  appeal of the assessee  the Court held  that, the expression “any previous year” does not mean all previous years but the previous year in relation to the assessment year concerned.  If the cash credits are credited in the FY 2006-07, it cannot be brought to tax in a later AY.2009-10 .Followed  CIT v. Bhaichand H. Gandhi (1983) , 141 ITR 67  (Bom) (HC) CIT v. Lakshman Swaroop Gupta & Brothers (1975) , 100 ITR 222 (Raj) (HC) Bhor Industries Ltd v. CIT  AIR 1961 SC 1100  ( TA No. 29 of  013, dt. 14.02.2020) (AY. 2009 10)