https://www.taxtmi.com/caselaws?id=360063 The Tribunal found that the Assessing Officer (AO) inconsistently applied Section 68 and Section 41(1) of the Income Tax Act. The AO added sundry creditors to the Assessee's income without rejecting the corresponding purchases, which was deemed incorrect. The Tribunal ruled in favor of the Assessee, directing the AO to delete the additions related to sundry creditors. The order of the CIT(A) confirming the AO's additions was set aside, and the Assessee's appeal was allowed on 04-05-2018. en-us Fri, 04 May 2018 00:00:00 +0530 Wed, 09 May 2018 08:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360063 The Tribunal found that the Assessing Officer (AO) inconsistently applied Section 68 and Section 41(1) of the Income Tax Act. The AO added sundry creditors to the Assessee's income without rejecting the corresponding purchases, which was deemed incorrect. The Tribunal ruled in favor of the Assessee, directing the AO to delete the additions related to sundry creditors. The order of the CIT(A) confirming the AO's additions was set aside, and the Assessee's appeal was allowed on 04-05-2018. Case-Laws Income Tax Fri, 04 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360063