Addition u/s 68 sustained as no fresh affidavits produced proving borrowing of unsecured loans

Unideep Food Vs T.K. Satapathy (Orissa high court) Orissa High Court held that assessee failed to produce any fresh affidavits proving that it had borrowed unsecured loans from lender farmers as directed by ITAT while remanding the matter. Accordingly, addition under section 68 sustained. Facts- This appeal by the Assessee is directed against an order dated 8th July 2019 passed by the Income Tax Appellate Tribunal, Cuttack Bench, Cuttack (ITAT) dismissing the Assessee’s ITA No.328/CTK/2017 for the assessment year (AY) 2007-08. The short question is whether the Assessing Officer (AO) was just...