https://www.taxtmi.com/caselaws?id=279919 The Tax Appeal was dismissed, upholding the decision of the Commissioner of Income Tax (Appeals) and the Tribunal to restrict the additions to 25% of the total addition on accounts of unverifiable sundry Creditors. The Assessing Officer's addition of the entire outstanding amount of creditors was deemed excessive, with the Tribunal citing relevant legal precedents to support the limitation of additions. The judgment emphasized the need to differentiate cases where entire purchases were fraudulent, justifying the 25% restriction in this instance. en-us Tue, 20 Feb 2018 00:00:00 +0530 Thu, 11 Apr 2019 05:10:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279919 The Tax Appeal was dismissed, upholding the decision of the Commissioner of Income Tax (Appeals) and the Tribunal to restrict the additions to 25% of the total addition on accounts of unverifiable sundry Creditors. The Assessing Officer's addition of the entire outstanding amount of creditors was deemed excessive, with the Tribunal citing relevant legal precedents to support the limitation of additions. The judgment emphasized the need to differentiate cases where entire purchases were fraudulent, justifying the 25% restriction in this instance. Case-Laws Income Tax Tue, 20 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279919