https://www.taxtmi.com/caselaws?id=219352 The Tribunal upheld the CIT(A)'s decision to delete additions made by the Assessing Officer regarding unproved trade creditors. The Tribunal found that the Assessing Officer's reliance on an ITI report was insufficient to substantiate the additions, as further inquiries were not conducted. Various cases cited supported the genuineness of transactions with specific trade creditors, emphasizing the need for thorough investigation. The Revenue's appeal was dismissed, affirming the deletion of the additions and highlighting the importance of comprehensive inquiries beyond relying solely on reports. en-us Thu, 26 Jul 2012 00:00:00 +0530 Sat, 05 Jan 2013 11:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219352 The Tribunal upheld the CIT(A)'s decision to delete additions made by the Assessing Officer regarding unproved trade creditors. The Tribunal found that the Assessing Officer's reliance on an ITI report was insufficient to substantiate the additions, as further inquiries were not conducted. Various cases cited supported the genuineness of transactions with specific trade creditors, emphasizing the need for thorough investigation. The Revenue's appeal was dismissed, affirming the deletion of the additions and highlighting the importance of comprehensive inquiries beyond relying solely on reports. Case-Laws Income Tax Thu, 26 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219352