who is assessee in case of sec 68
cash credit
As per S.2(7) of the Income Tax Act, 1961, unless the context otherwise requires, the term “assessee” means a person by whom any tax or any other sum of money is payable under this Act.
assessee-meaning-s-27-income-tax
Section 68. Where any sum is found credited in the book 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 [Assessing] Officer, satisfactory, the sum so credited may be charged to income-tax as the income of the assessee of that previous year.
nice fourm i like it very much and it helped me a lot thanks you can also check my website click here
CAclubindia
