Mere filing of  Affidavit is not sufficient to prove the Capacity and Source of  Persons who gave Money to Assessee: ITAT grants Rs.10 lakh Relief [Read Order]

Mere filing of  Affidavit - sufficient - Capacity and Source - Capacity - Assessee - Money to Assessee - Money - ITAT - Relief - Income Tax - taxscan

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT)  while granting  Rupees 10 lakh relief to assessee  held that merely filing of the affidavit is not sufficient to prove the capacity and source of the persons who gave money to assessee . Assesee Sumeet Agarwal, is an individual engaged in the proprietary business of…

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