Amounts Credited in Books of Accounts Lack Genuineness: ITAT upholds Addition made u/s 68 [Read Order]

Amounts - Books of Accounts - ITAT - taxscan

The Mumbai Bench of Income Tax Appellate Tribunal presided by Mr. Prashant Maharishi, AMand Mr. Sandeep Singh Karhail, JM has held that amounts credited in books of accounts lack genuineness and upholds addition made u/s 68. The appellant, Suncap Commodities Private Limited, is a company dealing in various types of commodities and shares, mainly it…

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