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Friday 14 September 2012

Addition made u/s 68 for non production of creditors

Amount equivlent to cheques issued deposited in accounts of creditors. Creditors were men of small means. The assessee didn't ask for summoning creditors. Hence burdern of proof not discharged

Agra ITAT in case of Sumant Gupta 16-03-2012 ITA 454/2009