ITAT Ahmedabad holds that mere increase in cash deposit-to-turnover ratio during demonetization does not justify addition under Section 68 if books are maintained and sales are verified.
ITAT Kolkata holds that cash deposits during demonetization from verified cash books cannot be taxed under Section 68 without evidence of unexplained income.
Delhi ITAT holds that repayment of unsecured loans with interest, supported by MCA records and bank statements, discharges assessee's burden under Section 68; no addition permissible without concrete evidence of accommodation entries.
ITAT Delhi holds that furnishing donor names, PAN, ITR copies, and confirmations satisfies Section 68 requirements; physical production not mandatory. Key precedent applied.
ITAT restores appeal to CIT(A) for fresh adjudication, emphasizing burden of proof, necessity of verification under Section 133(6), and consequences of non-prosecution in tax appeals.
ITAT holds that books of accounts cannot be rejected under Section 145(3) merely due to delayed document submission; must show specific defects or lack of bona fides.
ITAT Delhi holds that repayment of loans with interest before scrutiny proceedings, coupled with banking trail, establishes genuineness under Section 68, overturning arbitrary additions.