https://www.taxtmi.com/caselaws?id=778529 ITAT KOLKATA - AT upheld the assessee's position and disallowed the AO's addition under section 68 for alleged unexplained cash credits arising from accommodation entries. The tribunal accepted documentary evidence (sale/purchase bills, bank statements, ITRs) showing sale of investments held from earlier years and noted no receipt from the third party; one receipt related to sale proceeds and another to refund of advance. The AO's reliance on presumption and surmise was rejected, and the prior acceptance of investments in earlier assessments precluded doubting their genuineness on sale. en-us Fri, 12 Sep 2025 00:00:00 +0530 Thu, 18 Sep 2025 08:30:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778529 ITAT KOLKATA - AT upheld the assessee's position and disallowed the AO's addition under section 68 for alleged unexplained cash credits arising from accommodation entries. The tribunal accepted documentary evidence (sale/purchase bills, bank statements, ITRs) showing sale of investments held from earlier years and noted no receipt from the third party; one receipt related to sale proceeds and another to refund of advance. The AO's reliance on presumption and surmise was rejected, and the prior acceptance of investments in earlier assessments precluded doubting their genuineness on sale. Case-Laws Income Tax Fri, 12 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778529