https://www.taxtmi.com/caselaws?id=767835 ITAT Bangalore held that additions under Section 68 for unexplained cash deposits cannot be made when the assessee has not maintained books of accounts, as the AO acknowledged no books were maintained. Following DCIT vs GSNR Rice Industries precedent, Section 68 additions require existence of books of accounts. Additionally, the addition under Section 37 for interest payment was deleted as it was not part of the original reasons for reopening assessment, making subsequent additions unsustainable per Asha Kansal judgment. Appeal decided in favor of assessee. en-us Mon, 24 Mar 2025 00:00:00 +0530 Wed, 26 Mar 2025 06:50:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767835 ITAT Bangalore held that additions under Section 68 for unexplained cash deposits cannot be made when the assessee has not maintained books of accounts, as the AO acknowledged no books were maintained. Following DCIT vs GSNR Rice Industries precedent, Section 68 additions require existence of books of accounts. Additionally, the addition under Section 37 for interest payment was deleted as it was not part of the original reasons for reopening assessment, making subsequent additions unsustainable per Asha Kansal judgment. Appeal decided in favor of assessee. Case-Laws Income Tax Mon, 24 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767835