Case Law Details
Case Name : Vishan Swaroop Gupta Vs ITO (ITAT Jaipur)
Related Assessment Year : 2015-16
Courts :
All ITAT ITAT Jaipur
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Vishan Swaroop Gupta Vs ITO (ITAT Jaipur)
Credit in the ‘bank account’ of an assessee cannot be construed as a credit in the ‘books’ of the assessee as per section 68 of Income Tax Act, 1961.
We observe that credit in the ‘bank account’ of an assessee cannot be construed as a credit in the ‘books’ of the assessee, for the very reason that the bank account cannot be held to be the ‘books’ of the assessee. Though, it remains as a matter of fact that the ‘bank account’ of a
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