[aaykarbhavan] AO should controvert. the averments of the affidavits and the version given therein to proceed in making addition

  ITAT JODHPUR - Income Tax

The ITO Ward - 1(4) Versus Shri Shree Bhagwan Suthar Prop M/s Gobind Handicrafts

Deletion made u/s 68 of the Act – Unexplained creditors – Held that:- The assessee produced duly sworn in affidavits of 6 creditors - For the remaining, the assessee produced confirmation through affidavits etc. before the CIT(A) - the creditors have admitted their respective credits and have also explained their source(s) - unless the AO controverts the averments of the affidavits, the version given therein cannot be rejected - the evidence produced by the assessee in respect of the creditors were also considered – thus, the order of the CIT(A) is setting aside the addition is upheld – Decided against Revenue.

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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