https://www.taxtmi.com/caselaws?id=782001 ITAT Kolkata deleted the addition made u/s 69A treating sale proceeds of sarees as unexplained money. The AO had alleged bogus transactions, but enquiry by the Inspector confirmed that the purchaser concern existed at the stated address. The transactions were routed through banking channels with no indication of cash deposits, and the AO did not dispute the bank details of the purchaser. ITAT held that the assessee had sufficiently established the identity, genuineness, and creditworthiness of the purchaser and that the sale proceeds could not be taxed as unexplained money. en-us Wed, 23 Jul 2025 00:00:00 +0530 Mon, 24 Nov 2025 08:57:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782001 ITAT Kolkata deleted the addition made u/s 69A treating sale proceeds of sarees as unexplained money. The AO had alleged bogus transactions, but enquiry by the Inspector confirmed that the purchaser concern existed at the stated address. The transactions were routed through banking channels with no indication of cash deposits, and the AO did not dispute the bank details of the purchaser. ITAT held that the assessee had sufficiently established the identity, genuineness, and creditworthiness of the purchaser and that the sale proceeds could not be taxed as unexplained money. Case-Laws Income Tax Wed, 23 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782001