https://www.taxtmi.com/caselaws?id=396187 Sundry creditor additions could not be sustained merely because some creditors did not furnish PAN or file returns where the assessee had supplied names and addresses, responses were obtained to notices under section 133(6), and some creditors appeared and confirmed the transactions under section 131. For the relevant assessment year, PAN was not mandatory under Rule 115B, and a substantial part of the balances consisted of opening balances already examined in earlier years. In the absence of tangible material or corroborative evidence showing the creditors to be bogus, the addition was deleted as unsustainable. en-us Wed, 17 Jun 2020 00:00:00 +0530 Wed, 24 Jun 2020 10:39:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396187 Sundry creditor additions could not be sustained merely because some creditors did not furnish PAN or file returns where the assessee had supplied names and addresses, responses were obtained to notices under section 133(6), and some creditors appeared and confirmed the transactions under section 131. For the relevant assessment year, PAN was not mandatory under Rule 115B, and a substantial part of the balances consisted of opening balances already examined in earlier years. In the absence of tangible material or corroborative evidence showing the creditors to be bogus, the addition was deleted as unsustainable. Case-Laws Income Tax Wed, 17 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396187