https://www.taxtmi.com/caselaws?id=335277 The ITAT Kolkata upheld the addition of Rs. 78,45,882 representing balances of Sundry Creditors due to the appellant's failure to prove their genuineness. However, the ITAT partially allowed the appeal regarding the disallowance of Rs. 4,60,000 as profit element on advances against the sale of flats, adjusting the estimated profit rate to 5% instead of the initially proposed 20%. en-us Wed, 07 Sep 2016 00:00:00 +0530 Thu, 24 Nov 2016 17:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335277 The ITAT Kolkata upheld the addition of Rs. 78,45,882 representing balances of Sundry Creditors due to the appellant's failure to prove their genuineness. However, the ITAT partially allowed the appeal regarding the disallowance of Rs. 4,60,000 as profit element on advances against the sale of flats, adjusting the estimated profit rate to 5% instead of the initially proposed 20%. Case-Laws Income Tax Wed, 07 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335277