No Addition u/s 68 if Amount not appear in Books of accounts: ITAT

Balaji Tirupati Buildcon Ltd Vs ITO (ITAT Delhi) Introduction: The Income Tax Appellate Tribunal (ITAT) of Delhi, in the case between Balaji Tirupati Buildcon Ltd and the Income Tax Officer (ITO), has ruled on the matter of additions under Section 68 of the Income Tax Act. The key contention here is whether an addition can be made if the amount doesn’t appear in the books of account. Analysis: The appellant, Balaji Tirupati Buildcon Ltd, contended against an addition of Rs. 17,90,671/- made under Section 68, stating that this amount was neither earned nor received as interest income duri...