https://www.taxtmi.com/caselaws?id=270562 The Tribunal upheld the addition under section 41(1) of the Income Tax Act for outstanding sundry creditors, as the appellant failed to prove the existence of liabilities. For the addition under section 69A for unexplained cash deposits, the Tribunal found the Department's action unreasonable and ordered a re-examination by the AO, allowing the issue for statistical purposes. The appeal was partly allowed, with a direction for proper assessment based on the appellant's submissions. en-us Mon, 19 Oct 2015 00:00:00 +0530 Sun, 10 Jan 2016 21:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270562 The Tribunal upheld the addition under section 41(1) of the Income Tax Act for outstanding sundry creditors, as the appellant failed to prove the existence of liabilities. For the addition under section 69A for unexplained cash deposits, the Tribunal found the Department's action unreasonable and ordered a re-examination by the AO, allowing the issue for statistical purposes. The appeal was partly allowed, with a direction for proper assessment based on the appellant's submissions. Case-Laws Income Tax Mon, 19 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270562