The assessee was engaged in the business of manufacturing and trading of yarn, garments, towels etc. A search and seizure operation u/s. 132 was conducted in the premises of the assessee. The  AO made additions on account of global depository receipts issued by the assessee as unexplained credit u/s. 68 on the ground that the assessee was unable to prove the identity, genuineness and creditworthiness of the investors and the financials trail of the money having been paid by such investors in the forms of investment in the global depository receipts. The CIT(A) upheld the addition. On appeal the Tribunal held that  the authorities had made additions only on the basis suspicion. The Tribunal further held that the. AO had overlooked the fact that the assessee had raised this money through a public issue and that the instrument was listed on a stock exchange overseas, wherein there was no interaction between the assessee and the investors; infact most of the investors had off loaded their global depository receipts and now those shares were in equity market listed on Indian Stock Exchange. The Tribunal accordingly held that, just because the assessee was not in position to produce bank statement of the investors the impugned additions could not have been made. Dis-satisfaction about the sufficiency of information could not be a ground to take adverse view against the assessee.  (AY 2010-11 to 2014-15) (ITA No. 157-161, 302, 303/Chd/2018 dt.28-2 2019)