Section 68 addition justified for non-production of persons summoned

Anandtex International P. Ltd Vs ACIT (ITAT Delhi) It is legitimate for the learned Assessing Officer to look into the issues like – whether the two parties are related or known to each other, or mode by which parties approached each other? whether the transaction is entered into through written documentation to protect investment? whether the investor was an angel investor? what is the quantum of money invested? how the party believed the credit-worthiness of the recipient? what is the object and purpose of payment/investment? whether the share applicant is in existence and an independe...