https://www.taxtmi.com/caselaws?id=218457 The Revenue's appeal challenging the deletion of the addition of Rs.22,00,476 on account of alleged bogus creditors for the assessment year 2006-2007 was dismissed. The court found that the assessee adequately demonstrated the genuineness of the creditors related to goods purchased and trade creditors, emphasizing the lack of evidence proving them as non-genuine. Additionally, the assessee's Cross Objection (CO) was dismissed due to non-appearance and lack of interest in pursuing it, leading to the upholding of the deletion of the said addition. en-us Fri, 05 Oct 2012 00:00:00 +0530 Fri, 02 Nov 2012 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218457 The Revenue's appeal challenging the deletion of the addition of Rs.22,00,476 on account of alleged bogus creditors for the assessment year 2006-2007 was dismissed. The court found that the assessee adequately demonstrated the genuineness of the creditors related to goods purchased and trade creditors, emphasizing the lack of evidence proving them as non-genuine. Additionally, the assessee's Cross Objection (CO) was dismissed due to non-appearance and lack of interest in pursuing it, leading to the upholding of the deletion of the said addition. Case-Laws Income Tax Fri, 05 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218457