2018 (4) TMI 379 - AT - Income Tax

Addition u/s 68 - Held that:- There exists material to implicate the assessee in a collusive arrangement with person who are self-confessed accommodation entry providers. In the present case, there is no such material to implicate the assessee and as such this judgment nowhere supports the case of the Revenue. In view of the above facts and our findings, we hold that the assessee has fully discharged its onus under Section 68 and accordingly direct the AO to delete the addition.