Section 68 addition unsustainable if department accepted factum of repayment

DCIT Vs Singhania Buildcon Pvt. Ltd. (ITAT Raipur) 1. AO has not made any attempt to rebut the claim of the assessee. The confirmations were filed by the assessee to support the factual position. The assessee has placed the facts which are apparent in nature for which no rebuttal has been done. 2. The Hon’ble Gujarat High Court in the case of CIT vs. Ayachi Chandrasekhar Narsangji, [2013 – GUJARAT HIGH COURT], CIT s. Mahavir Crimpers, [ GUJARAT HIGH COURT] have held that when the Department has accepted the factum of repayment, the additions under section 68 is not sustainable in law. ...