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2019 (2) TMI 106 - ITAT AHMEDABADAddition on account of alleged unexplained cash credit u/s 68 - Held that:- In order to establish the genuineness of the transaction the assessee supplied the relevant details of the concerned persons to the assessing officer and thus discharged her primary onus. With utter surprise we find no inquiry in order to come to a conclusion before making addition in the hands of the assessee has been conducted by the learned AO. It is relevant to mention that all transactions were routed through banking channels and the assessee duly explained source of income of those creditors. The additions, therefore, cannot be made under section 68 without due process of law. No deliberation on this score was made either by the first appellate authority when the same was again placed before him by the assessee. No remand report, even was not called for by the first appellate authority from the assessing officer before justifying the addition made by the AO. In the absence of any contrary evidence against the assessee up on inquiry made by the authorities below such addition, in our considered view, cannot be sustained in the present facts and circumstances of the case. We, thus, delete the addition made by the authorities below. - Decided in favour of assessee.
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