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Addition u/s 68 unsustainable as documentary evidences furnished not proved to be defective
Case Law Details
- Case Name
- DCIT Vs Jayesh R. Thakkar (ITAT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011/-12
- Courts
- All ITAT, ITAT Ahmedabad
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DCIT Vs Jayesh R. Thakkar (ITAT Ahmedabad)
ITAT Ahmedabad held that addition towards unexplained cash credit under section 68 of the Income Tax Act rightly deleted by CIT(A) as documentary evidences proving identity, creditworthiness of the parties and genuineness of the transaction were not proved to be defective by revenue.
Facts- The assessee is an individual and engaged in 3 separate business activities namely Share Trading business, Construction business, and Transportation business under different names and styles. The assessee in the business of share trading has shown the receipt of in...
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