Addition u/s. 41 (1) or u/s 68 - no reply by sundry creditors ...

Additions u/ss 41(1) & 68 Impermissible Due to Genuine Transactions and Later Acceptance by Revenue Authorities.

June 1, 2019

Case Laws Income Tax AT

Addition u/s. 41 (1) or u/s 68 - no reply by sundry creditors u/s 133(6) - AO has accepted purchases as genuine and the amount outstanding in the name of sundry creditors have been paid through banking channels in subsequent years and purchases in subsequent years has been accepted by the revenue without any doubt - addition not permissible merely because the said creditors were not produced before the AO

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Addition u/s. 41 (1) or u/s 68 - no reply by sundry creditors ...

Additions u/ss 41(1) & 68 Impermissible Due to Genuine Transactions and Later Acceptance by Revenue Authorities.

June 1, 2019

Case Laws Income Tax AT

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