ITAT accepts submission of Appellant on Preponderance of probability test vis-a-vis bank account deposits

Shri Praveen Kumar Vs ITO (ITAT Jaipur) As per facts of the present case, the assessee was student and studying for said period in Birla Institute of Technology as a regular student of M.Sc. Animation and Design and was tenant of Shri Abhishek Agarwal, who was into business of real estate in name and style of M/s Shri Krishna Star Realter. According to the asssessee, he was not having any sufficient income, therefore, not filed Income tax return since the income was Nil. The assessee was maintaining a savings bank account with Axis Bank bearing account No. 402010100033503 for receiving monthly...