Can capital contribution of the individual partners credited to their accounts in the books of the firm be taxed as cash credit in the hands of the firm, where the partners have admitted their capital contribution but failed to explain satisfactorily the source of receipt in their individual hands?
source https://www.caclubindia.com/articles/whether-capital-contribution-in-cash-by-partners-will-be-taxable-as-cash-credit-46839.asp
source https://www.caclubindia.com/articles/whether-capital-contribution-in-cash-by-partners-will-be-taxable-as-cash-credit-46839.asp
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