https://www.taxtmi.com/caselaws?id=437896 The Tribunal upheld the Assessing Officer's decision to add Rs.1,08,82,873/- to the assessee's income due to lack of confirmations from sundry creditors, deeming the liabilities ceased. Disallowances for advances from customers (Rs.2,63,142/-) and car expenses/depreciation (Rs.29,729/-) were also upheld. The Tribunal found the expenses not genuine as creditors did not demand repayment, affirming the CIT(A)'s order. The appeal was dismissed, and the judgment was pronounced on 12/05/2023. en-us Fri, 12 May 2023 00:00:00 +0530 Wed, 17 May 2023 08:48:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437896 The Tribunal upheld the Assessing Officer's decision to add Rs.1,08,82,873/- to the assessee's income due to lack of confirmations from sundry creditors, deeming the liabilities ceased. Disallowances for advances from customers (Rs.2,63,142/-) and car expenses/depreciation (Rs.29,729/-) were also upheld. The Tribunal found the expenses not genuine as creditors did not demand repayment, affirming the CIT(A)'s order. The appeal was dismissed, and the judgment was pronounced on 12/05/2023. Case-Laws Income Tax Fri, 12 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437896