https://www.taxtmi.com/caselaws?id=768435 ITAT Delhi upheld addition under Section 68 for unverified sundry creditors as assessee failed to prove creditworthiness, identity of creditors, and genuineness of transactions. Despite claims of repayment through banking channels, notice under Section 133(6) to creditor was unserved due to factory closure. However, addition regarding M/s. Viraj Industries was deleted since AO accepted these transactions as genuine in subsequent assessment year 2011-12. Capital gains addition on excess gold jewellery sale (416.06 grams beyond VDIS 1997 declaration) was upheld, with AO's computation of long-term capital gains confirmed. en-us Fri, 04 Apr 2025 00:00:00 +0530 Mon, 07 Apr 2025 19:04:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768435 ITAT Delhi upheld addition under Section 68 for unverified sundry creditors as assessee failed to prove creditworthiness, identity of creditors, and genuineness of transactions. Despite claims of repayment through banking channels, notice under Section 133(6) to creditor was unserved due to factory closure. However, addition regarding M/s. Viraj Industries was deleted since AO accepted these transactions as genuine in subsequent assessment year 2011-12. Capital gains addition on excess gold jewellery sale (416.06 grams beyond VDIS 1997 declaration) was upheld, with AO's computation of long-term capital gains confirmed. Case-Laws Income Tax Fri, 04 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768435