https://www.taxtmi.com/caselaws?id=277326 The ITAT dismissed the Revenue Department's appeal, ruling that no addition could be made under section 68 of the Income Tax Act as the assessee did not maintain any books of accounts, and the bank passbook could not be considered as the assessee's books of accounts. The decision was based on precedents emphasizing that section 68 applies only when sums are found credited in the assessee's books, which do not include a bank passbook. en-us Thu, 11 Aug 2016 00:00:00 +0530 Sat, 01 Dec 2018 12:35:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277326 The ITAT dismissed the Revenue Department's appeal, ruling that no addition could be made under section 68 of the Income Tax Act as the assessee did not maintain any books of accounts, and the bank passbook could not be considered as the assessee's books of accounts. The decision was based on precedents emphasizing that section 68 applies only when sums are found credited in the assessee's books, which do not include a bank passbook. Case-Laws Income Tax Thu, 11 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277326