BHIMA JEWELLERS vs. COMMISSIONER OF INCOME TAX,
ITA/15/2021HC Kerala25 Aug 2022
Bench: HONOURABLE MR.JUSTICE S.V.BHATTI,HONOURABLE MR.JUSTICE BASANT BALAJI
For Appellant: M/S BHIMA JEWELLERSFor Respondent: COMMISSIONER OF INCOME TAX
Section 115Section 115BSection 263Section 68Section 69Section 69ASection 69BSection 69CSection 69D
depreciation. On the
basis of this judgment unexplained cash credit of
Rs.1,86,00,000/- is not eligible for set off of business
loss of Rs.1,76,24,221/-.”
ITA No.15 of 2021 -6-
5. The assessee replied briefly that the unexplained credit
into the capital account has been treated as deemed income
under Section 68 of the Income
