Addition unsustainable as genuineness of transaction proved

Rajeshkumar Baldevbhai Patel Vs ITO (ITAT Ahmedabad)

ITAT Ahmedabad held that assessee has produced many evidences to provide genuineness of the transactions and hence addition confirmed by CIT(A) is liable to be deleted.

Facts-

The assessee is an individual and engaged in agricultural activities and not filed the Return of Income. It is noticed by AO from the AIR information, the assessee has made cash deposits of Rs. 14,50,500/- in the saving bank account with Ban

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