Bogus Entry Addition Deleted: ITAT Voids ₹78 Lakh Addition U/S 68 Due to Genuineness Established in Precedent Cases

Shivkripa Devcons Private Limited Vs ITO (ITAT Indore) Bogus Entry Theory Collapses – ITAT Deletes ₹78 Lakh Addition u/s 68- Once Genuineness Established in Earlier Cases, 68 Addition Can’t Survive – ITAT Indore Rules Assessee filed its original return declaring ₹49,570. Based on information from the Investigation Wing, the Department found that Assessee had received ₹78,00,000 as accommodation entries from M/s Jay Jyoti India Pvt. Ltd. (₹70L) & M/s Jayant Securities Pvt. Ltd. (₹8L), both allegedly controlled by Sharad Darak group. The case was reopened u/s 147 after recor...