https://www.taxtmi.com/caselaws?id=270918 The Tribunal upheld the disallowance of Rs. 9,80,850 towards trade creditors due to lack of confirmation letters. Outstanding credits in the names of two individuals were dismissed as not pressed. The disallowance of Rs. 2 lakhs for paddy and lorry hiring business expenditure was overturned as the basis for estimation was not justified. Rs. 1,06,316 for advertisement and festival expenses was upheld, with 20% being fairly estimated. The appeal was partly allowed, with the disallowance of Rs. 2 lakhs overturned, while other grounds were dismissed. en-us Thu, 29 Oct 2015 00:00:00 +0530 Mon, 18 Jan 2016 12:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270918 The Tribunal upheld the disallowance of Rs. 9,80,850 towards trade creditors due to lack of confirmation letters. Outstanding credits in the names of two individuals were dismissed as not pressed. The disallowance of Rs. 2 lakhs for paddy and lorry hiring business expenditure was overturned as the basis for estimation was not justified. Rs. 1,06,316 for advertisement and festival expenses was upheld, with 20% being fairly estimated. The appeal was partly allowed, with the disallowance of Rs. 2 lakhs overturned, while other grounds were dismissed. Case-Laws Income Tax Thu, 29 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270918