{"id":10152,"date":"2020-02-28T11:25:40","date_gmt":"2020-02-28T11:25:40","guid":{"rendered":"http:\/\/itatonline.org\/digest\/ivan-singh-v-acit-bomhcgoa-bench-www-itatonline-org\/"},"modified":"2022-01-21T18:17:36","modified_gmt":"2022-01-21T12:47:36","slug":"ivan-singh-v-acit-bomhcgoa-bench-www-itatonline-org","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ivan-singh-v-acit-bomhcgoa-bench-www-itatonline-org\/","title":{"rendered":"Ivan Singh v. ACIT (2020) 422 ITR 128 \/ 195 DTR 227\/ 272 Taxman 36\/ ( 2021) 322 CTR 851 (Bom)(HC)(Goa Bench), www.itatonline.org"},"content":{"rendered":"<p>The question before the High Court was \u201c 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\u201d \u00a0Allowing the \u00a0appeal of the assessee \u00a0the Court held\u00a0 that, t<strong>he expression \u201cany previous year\u201d does not mean all previous years but the previous year in relation to the assessment year concerned.\u00a0 If the cash credits are credited in the FY 2006-07, it cannot be brought to tax in a later AY.2009-10 .Followed\u00a0 <\/strong>CIT v. Bhaichand H. Gandhi (1983) , 141 ITR 67 \u00a0(Bom) (HC) CIT v. Lakshman Swaroop Gupta &amp; Brothers (1975) , 100 ITR 222 (Raj) (HC) Bhor Industries Ltd v. CIT\u00a0 AIR 1961 SC 1100 \u00a0( TA No. 29 of\u00a0 013, dt. 14.02.2020) (AY. 2009 10)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 68 : Cash credits -The expression \u201cany previous year\u201d 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[ S.3 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10152","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-2DK","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=10152"}],"version-history":[{"count":5,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10152\/revisions"}],"predecessor-version":[{"id":24188,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/10152\/revisions\/24188"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=10152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=10152"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=10152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}