Sundry Debtors Not Unexplained Money Under Section 69A: ITAT Jaipur

Ratika Kumbhat Vs ITO (ITAT Jaipur)

ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable article and hence doesn’t qualify as unexplained money under section 69A of the Income Tax Act. Accordingly, appeal allowed and addition u/s. 69A deleted.

Facts- During the assessment proceedings, AO noted that the assessee had shown debtors amounting to Rs. 12,00,000/- for whom no documentary evidence was submitted by the assessee. AO noted that the assessee did not prove the genuineness of

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