https://www.taxtmi.com/caselaws?id=275133 The appeal was allowed as the Pen Drive recovered by Punjab Vigilance Bureau, containing transactions, did not belong to the assessee but to another individual. As the transactions were not part of the assessee's maintained books, the provisions of section 68 of the Income-tax Act could not be applied. The Tribunal emphasized the specific conditions required by section 68 for making additions, including the sum being found credited in the assessee's books. Since this condition was not met, the addition of Rs. 8,80,000 was deleted, and the assessee's appeal was allowed. en-us Wed, 17 Feb 2016 00:00:00 +0530 Thu, 20 Sep 2018 06:49:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275133 The appeal was allowed as the Pen Drive recovered by Punjab Vigilance Bureau, containing transactions, did not belong to the assessee but to another individual. As the transactions were not part of the assessee's maintained books, the provisions of section 68 of the Income-tax Act could not be applied. The Tribunal emphasized the specific conditions required by section 68 for making additions, including the sum being found credited in the assessee's books. Since this condition was not met, the addition of Rs. 8,80,000 was deleted, and the assessee's appeal was allowed. Case-Laws Income Tax Wed, 17 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275133