Advances received by assessee in earlier assessment years could not be brought to tax as unexplained cash credit under section 68 in relevant/current assessment year. (AY. 2012-13)
James P. D’Silva. v. DCIT (2019) 175 ITD 533/199 TTJ 739 / 179 DTR 281(Mum.)(Trib.)
S. 68 : Cash credits–Advance received in earlier years-Addition cannot be made as cash credits.