https://www.taxtmi.com/caselaws?id=255462 The High Court upheld the Tribunal's decision in favor of the textile firm, dismissing the Revenue's appeal. The addition towards cash credit for the assessment year 2001-2002 was deleted after the CIT (Appeals) and Tribunal found the trade creditors to be genuine. The Court also ruled that there was no violation of Rule 46A by the Income Tax Tribunal. The issue of deletion of additions without affording an opportunity to cross-examine creditors was not addressed as previous decisions favored the assessee. No costs were awarded in the matter. en-us Mon, 05 Jan 2015 00:00:00 +0530 Sat, 17 Jan 2015 09:54:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255462 The High Court upheld the Tribunal's decision in favor of the textile firm, dismissing the Revenue's appeal. The addition towards cash credit for the assessment year 2001-2002 was deleted after the CIT (Appeals) and Tribunal found the trade creditors to be genuine. The Court also ruled that there was no violation of Rule 46A by the Income Tax Tribunal. The issue of deletion of additions without affording an opportunity to cross-examine creditors was not addressed as previous decisions favored the assessee. No costs were awarded in the matter. Case-Laws Income Tax Mon, 05 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255462