Addition towards SBN deposits sustained as source not established

Pankaj Gupta Vs ITO (ITAT Cuttack)

ITAT Cuttack held that addition towards the unexplained investment for SBN deposits during demonetization period sustained in absence to establish source of the same without documentary evidences.

Facts- The assessee is an individual carrying on business of FMCG goods on wholesale and retail trading in the name and style of M/s Santoshi Agencies at Sohella, District Bargarh. The assessee maintains computerized cash book, journal, Ledger, purchase register and sales r

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