Non-Compliance with Statutory Notices and Absence of Verifiable Stock Evidence: ITAT Sustains ₹68.07 Lakh Addition as Unexplained Investment

The ITAT upheld an addition of ₹68.07 lakh as unexplained investment due to the assessee’s failure to comply with statutory notices and inability to produce verifiable stock evidence. The Tribunal found that repeated non-appearance and lack of supporting records justified the addition under Section 69. The decision underscores the importance of timely compliance and robust documentation in defending tax assessments, especially in stock-related cases.