9911796707
TMI Blog2025 (2) TMI 116X X X X Extracts X X X X X X X X Extracts X X X X ..... t been found credited in the books of accounts. Therefore in my view, the provisions of section 68 of the act are not applicable where the assessee has not maintained books of accounts and the same is not found credited in the books of accounts. Thus no amount has been found credited in the books of account, therefore, no addition could have been made u/s 68 of the act by the AO. Even otherwise L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by an affidavit. 3. After having heard the counsels for both the parties and going through the contents of the application for seeking condonation of delay and also taking into consideration the principles as laid down by Hon'ble Supreme Court in the case of Land Acquisition Collector Vs. Mst. Katiji & Ors., [1987] AIR 1353 (SC) wherein it has been held that where substantial justice is pitted a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o take up both these grounds jointly and dispose of the same through the present consolidated order. 6. I have heard the counsels for both the parties and have also perused the material placed on record, judgement cited before me and the orders passed by the revenue authorities. 7. As per the facts of the present case, assessee has shown exempt income under section 10(38) of the Act of Rs. 10,12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee has not maintained books of account and credit of Rs. 10,12,375/- has not been found credited in the books of accounts. Therefore in my view, the provisions of section 68 of the act are not applicable where the assessee has not maintained books of accounts and the same is not found credited in the books of accounts. For this proposition, I rely upon the following case laws: 1. Cit Vs ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
