https://www.taxtmi.com/caselaws?id=263930 The Tribunal partly allowed the appellant's appeal, finding the assessment order confirmed by the CIT(A) sustainable on factual and legal grounds. The addition of amount payable to farmers under section 68 was deemed unsustainable as the trade credits were not cash credits. Credit balances treated as unexplained under section 69C were upheld due to unexplained sources of payment. The challenge on the assessment's limitation under section 150(1) was dismissed, clarifying its inapplicability to regular assessments under section 143(3). en-us Fri, 12 Jun 2015 00:00:00 +0530 Mon, 14 Sep 2015 06:57:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263930 The Tribunal partly allowed the appellant's appeal, finding the assessment order confirmed by the CIT(A) sustainable on factual and legal grounds. The addition of amount payable to farmers under section 68 was deemed unsustainable as the trade credits were not cash credits. Credit balances treated as unexplained under section 69C were upheld due to unexplained sources of payment. The challenge on the assessment's limitation under section 150(1) was dismissed, clarifying its inapplicability to regular assessments under section 143(3). Case-Laws Income Tax Fri, 12 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263930