Section 68 Cash Credit Addition Overturned: Lack of Evidence for Crop Sales Leads to Unsustainable AO Decision.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 68 - unexplained cash credit - no proof/evidence of sale of crops - the AO has disbelieved the statement of the assessee and the nature of trend in the agriculture sector wherein proper sale records could not be maintained by the small time agriculturist. For all these reasons, the addition made by the A.O. u/s. 68 is not sustainable in law - AT....