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2019 (1) TMI 218 - AT - Income TaxAddition of cash credits - Held that:- Explanation of the assessee was not found satisfactory on the basis that before advancing money to the assessee, there were cash deposits in the account of the creditors. CIT(A) has admitted the factum of earning of agricultural income. Therefore, inference that the entire amount was not belonging to the creditors would be fallacious. We therefore, looking into the facts and material available on records, hereby delete 50% of the addition of ₹ 17,51,000/-. The ground of the assessee’s appeal is partly allowed.
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