I have seen papers on DNA bar coding, where some are clamming species approach is more acceptable, again some are claiming genus specific approach is more acceptable. I want have a view which will be more acceptable?
I would say that the answer to our question is taxon dependent. For some groups DNA-barcoding has limited success, and rarely works for species. In other groups in works well for separating species, but the genetic distances between species in the same genus can be equal to or higher then between species of different genera. For clitellate annelids that I work with I would say that the species approach is more accepted, and more successful than trying to separate genera using DNA-barcoding.
There is not such a thing as a "genus"; the species is the only existing thing (and even that is sometimes questionable;)...). How can you sequence the DNA of a genus???
Ideally, species specific approach is expected than to generic level. But, if you are not sure about species then till generic level is also acccepted. This type of species classified are called as interim species, also, linneage of these interim species could be studied by phylogenetic analysis and considered to be sister species to nearest neighboring species.
Oh, you mean you cannot identify the individual that you have used, to species level? That still does not mean you have the DNA of the "genus". A genus does not exist. In the best case you may have a phylogenetic analysis (based on molecules OR on morphology) that indicates a clade of related species. But even then, there is no objective criterium to decide at which node to put the 'frontier" for a 'genus" (or a for any of the Linnean categories). This is entirely arbitrary - depending on if you are a "lumper" or a "splitter":) and depending on the "traditions" commonly used in the (animal) group you are working with. Hence, biodiversity or ecological studies based on (number) of genera of families are extremely biased. (See my 2008 paper on Global diversity of free living flatworms (Platyhelminthes, “Turbellaria”) in freshwater and some references there in).
I completely agree with Andrea Barco. It depends on what your question is and the nature of your sample and data. What do you want to achieve with your study? Then, based on your data, how precise can you be? There is no 'one solution fits all' rather you should think about what is relevant for the specifics of your project.
As long as you do not pool specimens, your approach will always be individual-based.
What you conclude are ideas about species or genera or whatever you are interested in.
The problem with genera is, that like all supraspecific taxa there is no possibility to define what a genus is.
There are many species concepts which differ from each other, but there is not any genus concept (at least known to me - and I hope there is none). Thus a genus is nothing else but a convention among specialist in the nomenclature of a given group of organisms.