https://www.taxtmi.com/caselaws?id=356224 The Tribunal found in favor of the appellant company in a case involving the addition of unconfirmed credit balances to the returned income and the disallowance of a deduction claimed under section 80-IC of the Income-tax Act. The Tribunal determined that the additions were unjustified as the purchases were supported by documentation, verified by authorities, and the company's trading results were accepted. The CIT (A)'s decision to confirm the addition based on the failure to prove the genuineness of sundry creditors was overturned, and the addition was deleted. The company's appeal was allowed, resulting in the removal of the addition to the returned income. en-us Thu, 22 Feb 2018 00:00:00 +0530 Tue, 27 Feb 2018 07:12:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356224 The Tribunal found in favor of the appellant company in a case involving the addition of unconfirmed credit balances to the returned income and the disallowance of a deduction claimed under section 80-IC of the Income-tax Act. The Tribunal determined that the additions were unjustified as the purchases were supported by documentation, verified by authorities, and the company's trading results were accepted. The CIT (A)'s decision to confirm the addition based on the failure to prove the genuineness of sundry creditors was overturned, and the addition was deleted. The company's appeal was allowed, resulting in the removal of the addition to the returned income. Case-Laws Income Tax Thu, 22 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356224