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2019 (2) TMI 706 - AT - Income TaxUnexplained u/s 68 - non-genuine transactions - Held that:- The assessment order and the order of CIT(A) and noted that the AO noticed from the Bank Account submitted by the assessee that these are non-genuine transactions. The entire basis of the AO was on the investigation done by the office of DGIT Investigation, Mumbai. From the above assessment order, it is clear that the AO has not made any enquiry or investigation and no evidence to controvert the factual details submitted by the assessee was brought on record by the AO. The statement of Shri Pravin Kumar was supplied and no cross-examination was provided. There nothing on record about the result of investigation having done by the DGIT(Investigation), Mumbai. The papers filed by the assessee clearly demonstrate that the identity, creditworthiness and genuineness of the transaction is proved. The assessee has prima-facie discharged its onus and AO has not carried out any inquiry. We confirm the order of CIT(A) and this issue of Revenue’ s appeal is dismissed.
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