Assessee wins appeal on unexplained cash credits under Section 68 as Revenue failed proper inquiry

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....ITAT allowed the assessee's appeal regarding unexplained cash credits under section 68. The tribunal held that when assessee provides creditor details including names, addresses, and registration numbers, burden shifts to Revenue to establish lack of creditworthiness. AO failed to conduct proper inquiry or make assessments against lender companies under section 69. Mere non-compliance with summons insufficient for adverse inference. Addition on sundry creditors deleted as assessee was registered charitable institution under sections 12AA and 80G, and supplies were not disputed. Regarding depreciation on new assets, ITAT directed AO to allow depreciation if assets were ready for use at year-end, partially allowing the ground for statistical purposes.....