https://www.taxtmi.com/caselaws?id=242620 The ITAT partially allowed the appeal, holding that the addition made by the AO treating sundry creditors as unexplained cash credit was unsustainable for the two appearing creditors as they confirmed transactions through bank accounts. The ITAT directed reevaluation by the AO for the two absent creditors, emphasizing the need for the assessee to present them. The genuineness of transactions confirmed by appearing creditors was upheld, leading to the dismissal of the stay petition and partial allowance of the appeal for statistical purposes. en-us Wed, 12 Jun 2013 00:00:00 +0530 Wed, 08 Jan 2014 18:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242620 The ITAT partially allowed the appeal, holding that the addition made by the AO treating sundry creditors as unexplained cash credit was unsustainable for the two appearing creditors as they confirmed transactions through bank accounts. The ITAT directed reevaluation by the AO for the two absent creditors, emphasizing the need for the assessee to present them. The genuineness of transactions confirmed by appearing creditors was upheld, leading to the dismissal of the stay petition and partial allowance of the appeal for statistical purposes. Case-Laws Income Tax Wed, 12 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242620