Addition u/s. 69A deleted as identity, genuineness and creditworthiness proved: ITAT Ahmedabad

Nirmaladevi Shreegopal Kanodia Vs ITO (ITAT Ahmedabad) ITAT Ahmedabad held that addition under section 69A of the Income Tax Act not sustained since three key ingredients i.e. identity, genuineness and creditworthiness of parties being proved. Accordingly, appeal of assessee allowed. Facts- The assessee has preferred the present appeal mainly contesting that CIT(A) has erred in confirming the addition u/s. 69A of the Act and has wrongly invoked the provisions of Section 69A in the absence of clear evidence of unexplained money. It is submitted that the addition confirmed is totally incorrect o...