No section 68 additions if appellant not produced any books of accounts

DCIT Vs Rakesh Kumar Agrawal (ITAT Indore)

The appellant also agitated the making of the addition on the legal ground that since as per the AO’s own version, during the course of the assessment proceedings, the appellant had not produced any books of account and therefore, the question of finding any credit entry as regard to the sundry creditors and consequently, the question of invoking the provisions of section 68 does not arise. According to the appellant, finding of some entries in the books of account are sine-qua-non for invoking the provisions

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