Section 68 additions justified if firm fails to establish genuineness of cash introduced by partners

ACIT Vs Durga Granites (ITAT Hyderabad) ITAT held that if the partners of the assessee-firm had introduced the cash in their respective books and thereafter transferred the same to the books of the assessee firm then probably the onus may be on the partners of the assessee firm to establish the source of the cash brought into their respective books and therefore addition may not be made in the hands of the assessee firm depending on the facts and circumstance of the case. However, in the case of the assessee it is apparent that the cash was never introduced in the books of the partners of the ...