https://www.taxtmi.com/caselaws?id=301381 The appeal by the assessee against the disallowance of an advance received for the supply of goods as a bogus trading liability was allowed by the ITAT. The Assessing Officer's decision to treat the advance as a bogus liability was overturned, and the case was remanded for further evaluation with additional evidence provided by the assessee. The ITAT also directed a reevaluation of the addition of suppressed sales, which was ultimately allowed for statistical purposes. The appeal was allowed for statistical purposes, with the order pronounced on 15/01/2018. en-us Mon, 15 Jan 2018 00:00:00 +0530 Fri, 01 Apr 2022 20:30:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301381 The appeal by the assessee against the disallowance of an advance received for the supply of goods as a bogus trading liability was allowed by the ITAT. The Assessing Officer's decision to treat the advance as a bogus liability was overturned, and the case was remanded for further evaluation with additional evidence provided by the assessee. The ITAT also directed a reevaluation of the addition of suppressed sales, which was ultimately allowed for statistical purposes. The appeal was allowed for statistical purposes, with the order pronounced on 15/01/2018. Case-Laws Income Tax Mon, 15 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301381