TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of The Income Tax Appellate Tribunal (ITAT) adjudicated on various additions made by the Assessing Officer (AO) as unexplained/bogus credits or trading liabilities. The Tribunal held that the amount representing payment to a contractor, M/s Growfast Realtors (P) Ltd, was duly proved and the addition as unexplained credits was unsustainable. Regarding payment to M/s Sarda Vanijya (P) Ltd, supported by an accountant's certificate and TDS deduction, the Tribunal accepted it as a business payment and deleted the addition as unexplained credits. For small trading liabilities where the assessee could not furnish documents for two parties, the Tribunal favored the assessee based on preponderance of probabilities and deleted the addition. For trading liabilities related to Kripa Infrastructure and Swastik Engineering, considering the overall facts, the Tribunal restricted the addition to 50% of the AO's addition. Consequently, the assessee's appeal was partly allowed.
TaxTMI 
TaxTMI 
