Section 68 addition based on mere bald findings not sustainable

Amrutlal Gangaji Choudhary Vs DCIT (ITAT Pune)

Section 68 addition based on mere bald findings without giving any cogent and convincing reasons based on evidence on record not sustainable

The ld.CIT(A) without adverting to the evidence filed before him, had simply concluded that the creditworthiness of the creditors and genuineness of the credit transactions was not proved and confirmed the addition. From the material filed before ld.CIT(A), it is clear that the appellant

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