https://www.taxtmi.com/caselaws?id=276222 The Tribunal found that the Assessing Officer did not adequately verify the confirmations and based the decision on assumptions rather than facts. The order upholding the addition of the credit amount from 11 sundry creditors as bogus was deemed legally unsustainable. The case was remanded for proper verification of the confirmations filed by the appellant, with the directive to provide the appellant with an opportunity to be heard. The appeal by the assessee was allowed for statistical purposes. en-us Thu, 17 Sep 2015 00:00:00 +0530 Fri, 02 Nov 2018 13:43:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276222 The Tribunal found that the Assessing Officer did not adequately verify the confirmations and based the decision on assumptions rather than facts. The order upholding the addition of the credit amount from 11 sundry creditors as bogus was deemed legally unsustainable. The case was remanded for proper verification of the confirmations filed by the appellant, with the directive to provide the appellant with an opportunity to be heard. The appeal by the assessee was allowed for statistical purposes. Case-Laws Income Tax Thu, 17 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276222