Income Tax Department

Ministry of Finance, Government of India

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Section 68

Cash credits

Section

Section Number

68

Chapter

CHAPTER VI - AGGREGATION OF INCOME AND SET OFF OR CARRY FORWARD OF LOSS

Act

Income-tax Act, 1961

Year

1996

Cash credits

Cash credits
Cash credits.
22 68.    23Where any sum is found credited in the books of an asses­see maintained for any previous year, and the assessee offers no explanation about the nature and source thereof or the explana­tion offered by him is not, in the opinion of the 24[Assessing] Officer, satisfactory, the sum so credited may be charged to income-tax as the income of the assessee of that previous year.

Footnotes