INCOME TAX OFFICER-1, MORENA vs. SHRI AGRASEN LOGISTICS, JOTAI ROAD, PORSA,
In the result, the appeal of the Revenue is dismissed
ITA 108/AGR/2025[2022-23]Status: DisposedITAT Agra24 Jun 2025AY 2022-23
Bench: Shri Sunil Kumar Singh & Shri Manish Agarwal
Section 143(2)Section 143(3)Section 250Section 68
Section 68. Those are: (i)identity of the investors; (ii) their
creditworthiness; and (iii) genuineness of the transaction. The department's exercise starts
only when these three ingredients are established prima facie, by the assessee.
12. The Hon'ble Calcutta High Court) in Shankar Industries v. CIT [1978] 114 ITR 689 has
held that the Assessee must prove identities
