68. CIT v. G. K. K. Enterprises

Sanjay Kumar Karnani, Jaipur vs. ACIT, Central Circle-3, Jaipur

In the result, all appeals of the assessee are disposed off in terms of

Bench: AO on 12-04-2021 18. Reply filed before AO on 15-07-2021 19. Additional Written Submissions filed before CIT(A) for AY 2014-15 on 11-11-2024 20. Written Submissions filed before CIT(A) for AY 2014-15 21. Written Submissions filed before CIT(A) for AY 2015-16 on 10-10-2024 22. Written Submissions filed before CIT(A) for AY 2016-17 on 10-10-2024 23. Written Submissions filed before CIT(A) for AY 2017-18 on 15-10-2024 24. Written Submissions filed before CIT(A) for AY 2018-19 on 15-10-2024 25.

…r consideration. The court clarified that opening balance, which are carried forward from previous years, cannot be subject to add carried forward from previous years, cannot be subject to additions u/s 68. itions u/s 68. " CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High Court ruled that S.68 pertains only to unexplained credits introduced during the Court ruled that S.68 pertains only to unexplained credits introduced during the Court ruled that S…

Sanjay Kumar Karnani, Jaipur vs. ACIT, Central Circle-3, Jaipur

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

…r consideration. The court clarified that opening balance, which are carried forward from previous years, cannot be subject to add carried forward from previous years, cannot be subject to additions u/s 68. itions u/s 68. " CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High Court ruled that S.68 pertains only to unexplained credits introduced during the Court ruled that S.68 pertains only to unexplained credits introduced during the Court ruled that S…

Shri Ambica Garments, Jodhpur vs. ACIT, Central Circle-3, Jaipur

In the result, all appeals of the assessee are disposed off in terms of

Bench: DR. S. SEETHALAKSHMI (Judicial Member)

…d forward from previous years, cannot be subject to additions u/s 68. carried forward from previous years, cannot be subject to additions u/s 68. carried forward from previous years, cannot be subject to additions u/s 68. " CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High Court ruled that S.68 pertains only to unexplained credits introduced during Court ruled that S.68 pertains only to unexplained credits introduced during Court ruled that S.68 pert…

Shri Ambica Garments, Jodhpur vs. ACIT, Cental Circle-3, Jaipur, Jodhpur

In the result, all appeals of the assessee are disposed off in terms of

…d forward from previous years, cannot be subject to additions u/s 68. carried forward from previous years, cannot be subject to additions u/s 68. carried forward from previous years, cannot be subject to additions u/s 68. " CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High Court ruled that S.68 pertains only to unexplained credits introduced during Court ruled that S.68 pertains only to unexplained credits introduced during Court ruled that S.68 pert…

Shri Ambica Garments, Jodhpur vs. ACIT, Cental Circle-3, Jaipur

In the result, all appeals of the assessee are disposed off in terms of

…d forward from previous years, cannot be subject to additions u/s 68. carried forward from previous years, cannot be subject to additions u/s 68. carried forward from previous years, cannot be subject to additions u/s 68. " CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High Court ruled that S.68 pertains only to unexplained credits introduced during Court ruled that S.68 pertains only to unexplained credits introduced during Court ruled that S.68 pert…

Shri Ambica Garments, Jodhpur vs. ACIT, Cental Circle-3, Jaipur

…d that additions u/s 68 must be made for credits appearing during the year under consideration. The court clarified that opening balance, which are carried forward from previous years, cannot be subject to additions u/s 68. CIT vs. G. K. K. Enterprises (2002) 257 ITR 371 (Guj): The Gujarat High Court ruled that S.68 pertains only to unexplained credits introduced during the year and not to opening balances. The addition u/s 68 should be restricted to credits during the financial year under review. CIT vs. Orient Trading Co. (2001) 248 ITR 258 (Cal): This judgment emphasized that S.68 deals with the unexplained cr…