https://www.taxtmi.com/caselaws?id=263057 The delay in filing the appeal was condoned by the Tribunal due to a reasonable cause. The addition of Rs. 65,66,925 by the Assessing Officer as non-existent sundry creditors was deemed unsustainable as Sections 68 and 41(1) were found inapplicable without evidence of liability cessation. The appeal was allowed, and the addition was deleted, emphasizing the requirement for clear evidence to invoke relevant sections and citing judicial precedents in support of the assessee's position. en-us Fri, 07 Aug 2015 00:00:00 +0530 Wed, 26 Aug 2015 10:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263057 The delay in filing the appeal was condoned by the Tribunal due to a reasonable cause. The addition of Rs. 65,66,925 by the Assessing Officer as non-existent sundry creditors was deemed unsustainable as Sections 68 and 41(1) were found inapplicable without evidence of liability cessation. The appeal was allowed, and the addition was deleted, emphasizing the requirement for clear evidence to invoke relevant sections and citing judicial precedents in support of the assessee's position. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263057