https://www.taxtmi.com/caselaws?id=422758 The High Court remanded the issue of the inflated credit balance of RIL back to the CIT(A) for reevaluation based on new evidence. The addition of fittings sold with pipes was upheld, and the addition of unexplained sundry creditors was also upheld due to lack of evidence provided by the Assessee. The Court emphasized the importance of thorough examination of evidence and adherence to accounting standards in tax assessments. en-us Thu, 19 May 2022 00:00:00 +0530 Mon, 27 Feb 2023 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422758 The High Court remanded the issue of the inflated credit balance of RIL back to the CIT(A) for reevaluation based on new evidence. The addition of fittings sold with pipes was upheld, and the addition of unexplained sundry creditors was also upheld due to lack of evidence provided by the Assessee. The Court emphasized the importance of thorough examination of evidence and adherence to accounting standards in tax assessments. Case-Laws Income Tax Thu, 19 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422758