https://www.taxtmi.com/caselaws?id=356289 Sundry creditors arising from accepted purchase transactions were not liable to addition as unexplained income where the books reflected genuine purchases and sales, payments moved through banking channels, and the assessee furnished creditor details; mere non-compliance with section 133(6) notices was insufficient without further rebuttal by the Revenue. In a proprietorship concern, telephone and vehicle-related expenses could reasonably be disallowed to the extent of probable personal use, but an excessive ad hoc disallowance was not justified. The first appellate authority's limited restriction of the disallowance was treated as reasonable on the facts. en-us Mon, 26 Feb 2018 00:00:00 +0530 Wed, 28 Feb 2018 06:31:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356289 Sundry creditors arising from accepted purchase transactions were not liable to addition as unexplained income where the books reflected genuine purchases and sales, payments moved through banking channels, and the assessee furnished creditor details; mere non-compliance with section 133(6) notices was insufficient without further rebuttal by the Revenue. In a proprietorship concern, telephone and vehicle-related expenses could reasonably be disallowed to the extent of probable personal use, but an excessive ad hoc disallowance was not justified. The first appellate authority's limited restriction of the disallowance was treated as reasonable on the facts. Case-Laws Income Tax Mon, 26 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356289