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TMI Blog2015 (9) TMI 1748X X X X Extracts X X X X X X X X Extracts X X X X ..... is not made u/s 68 of the Act. Thus the year of receipt of credit and entry into the books of accounts is of no consequence. No other argument has been advanced before us on this issue. Thus this ground of the assessee is dismissed. - ITA No. 2043/Del/2010 And ITA No. 3230/Del/2012 - - - Dated:- 11-9-2015 - Shri G.C. Gupta, Vice President And Shri J. Sudhakar Reddy, Accountant Member For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hese appeals are common, for the sake of convenience they are heard together and disposed of by way of this common order. 2. We first take up ITA No. 2043/Del/2010. 2.1. The original order passed by the Tribunal in an appeal filed by the assessee, against the order of the Ld.CIT, Meerut u/s 263 of the Act, on 31.8.2010 was recalled to the limited extent of disposing of ground No. 4. 2.2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... during the current year. 2.5. Shri JP Chandrekar, the Ld. Sr. D.R. relied on the order of the Ld.CIT and submitted that the assessee had offered to tax Rs.9,50,000/- out of outstanding credit balance of earlier year for tax as income. It was submitted that this is not an addition u/s 68 and hence the argument of the assessee should be dismissed. 3. After hearing rival contentions, we are of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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