https://www.taxtmi.com/caselaws?id=184434 The Tribunal upheld the CIT(A)'s decision to delete additions under sundry creditors for the assessment year 2008-09, emphasizing the need for speaking orders and proper reasoning. The Tribunal noted the increase in trade creditors was due to business growth, with confirmatory letters provided for major creditors, and upheld the deletion as the credits were trade credits, not cash. Additionally, the Tribunal dismissed the Revenue's appeal and the assessee's cross-objection regarding the annulment of the assessment order due to late notice u/s 143(2) as the Revenue's appeal was already dismissed. en-us Wed, 31 Jul 2013 00:00:00 +0530 Fri, 08 Jul 2016 15:17:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184434 The Tribunal upheld the CIT(A)'s decision to delete additions under sundry creditors for the assessment year 2008-09, emphasizing the need for speaking orders and proper reasoning. The Tribunal noted the increase in trade creditors was due to business growth, with confirmatory letters provided for major creditors, and upheld the deletion as the credits were trade credits, not cash. Additionally, the Tribunal dismissed the Revenue's appeal and the assessee's cross-objection regarding the annulment of the assessment order due to late notice u/s 143(2) as the Revenue's appeal was already dismissed. Case-Laws Income Tax Wed, 31 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184434