https://www.taxtmi.com/caselaws?id=264336 The department's appeal was dismissed by the Tribunal, upholding the CIT(A)'s decisions on both issues. The disallowance under section 40(a)(ia) was deemed unjustified as the finance charges were paid in full during the relevant period. Additionally, the additions related to trade creditors were considered unwarranted as the transactions were genuine, supported by evidence, and the closing balances could not be treated as bogus. The Tribunal found no fault in the CIT(A)'s order and rejected the department's grounds. en-us Mon, 31 Aug 2015 00:00:00 +0530 Wed, 23 Sep 2015 08:12:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264336 The department's appeal was dismissed by the Tribunal, upholding the CIT(A)'s decisions on both issues. The disallowance under section 40(a)(ia) was deemed unjustified as the finance charges were paid in full during the relevant period. Additionally, the additions related to trade creditors were considered unwarranted as the transactions were genuine, supported by evidence, and the closing balances could not be treated as bogus. The Tribunal found no fault in the CIT(A)'s order and rejected the department's grounds. Case-Laws Income Tax Mon, 31 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264336