https://www.taxtmi.com/caselaws?id=183386 The High Court dismissed the appeal filed by the assessee against the order of the Income-tax Appellate Tribunal for the assessment year 1990-91. The Tribunal reversed the finding of the CIT(A) regarding the genuineness of the trade credit claimed by the assessee, emphasizing the need for proving the identity and genuineness of trade creditors. The Tribunal held that the assessee's failure to provide complete addresses of trade creditors hindered verification by the Assessing Officer, leading to the conclusion that the genuineness of the transaction was not established. Consequently, the assessee was not entitled to deduction for the trade credit claimed. en-us Tue, 23 Sep 2008 00:00:00 +0530 Wed, 08 Jun 2016 10:51:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183386 The High Court dismissed the appeal filed by the assessee against the order of the Income-tax Appellate Tribunal for the assessment year 1990-91. The Tribunal reversed the finding of the CIT(A) regarding the genuineness of the trade credit claimed by the assessee, emphasizing the need for proving the identity and genuineness of trade creditors. The Tribunal held that the assessee's failure to provide complete addresses of trade creditors hindered verification by the Assessing Officer, leading to the conclusion that the genuineness of the transaction was not established. Consequently, the assessee was not entitled to deduction for the trade credit claimed. Case-Laws Income Tax Tue, 23 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183386