https://www.taxtmi.com/caselaws?id=773362 The ITAT Delhi ruled in favor of the assessee on multiple issues. Regarding Section 68 additions for unexplained cash credits, the tribunal held that when the assessee provides creditor details including names, addresses, and GIR numbers, the burden shifts to the Revenue to establish lack of creditworthiness. The AO failed to conduct proper enquiry and merely issuing summons under Section 131 was insufficient. The addition on sundry creditors was deleted as the assessee was a registered charitable institution under Sections 12AA and 80G, and supplies from creditors were not disputed. Regarding depreciation on new assets, the tribunal directed the AO to allow depreciation if assets were ready for use at year-end, partially allowing the assessee's appeal. en-us Wed, 18 Jun 2025 00:00:00 +0530 Sat, 21 Jun 2025 08:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773362 The ITAT Delhi ruled in favor of the assessee on multiple issues. Regarding Section 68 additions for unexplained cash credits, the tribunal held that when the assessee provides creditor details including names, addresses, and GIR numbers, the burden shifts to the Revenue to establish lack of creditworthiness. The AO failed to conduct proper enquiry and merely issuing summons under Section 131 was insufficient. The addition on sundry creditors was deleted as the assessee was a registered charitable institution under Sections 12AA and 80G, and supplies from creditors were not disputed. Regarding depreciation on new assets, the tribunal directed the AO to allow depreciation if assets were ready for use at year-end, partially allowing the assessee's appeal. Case-Laws Income Tax Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773362