Held that section 68 of the Act would come into operation only where any sum was found credited in the books of the assessee maintained in the previous year and the assessee offered no explanation as to the nature and source thereof or the explanation offered by him, was not in the opinion of the Assessing Officer satisfactory. The assessee, having offered income on presumptive basis under section 44AD of the Act, was not required to maintain regular books of account. The Assessing Officer had not disputed the gross receipts declared by the assessee. Under these given facts and circumstances of the case, there was no basis for invoking the provisions of section 68 of the Act. Thus, addition of Rs. 28,964 made for unexplained sundry creditors was liable to be deleted. Moreover, since section 115BBE came into operation only in the case of income referred in sections 68 , 69 , 69A , 69B , 69C and 69D of the Act, there is  no justification for invoking its provisions in the case of the assessee. That the minimum amount not taxable for the preceding assessment years 2014-15 and 2013-14 was Rs. 2 lakhs and the assessee filed returns regularly and had a regular source of income from business. Therefore, there would be a presumption that he had sufficient accumulated profits to explain the opening capital balance of Rs. 67,463. The addition for opening capital balance is  deleted. That the assessee had failed to file any proof either before the lower authorities or before the Tribunal for payment of life insurance premium and in absence thereof such a claim could not be allowed. The disallowance of the claim of the assessee under section 80C of the Act is  affirmed. (AY. 2015-16)