https://www.taxtmi.com/caselaws?id=443528 The ITAT allowed the Revenue's appeal, setting aside the CIT(A)'s order and restoring the AO's addition of Rs. 7,74,32,498/- as unexplained bogus liabilities. The ITAT concluded that the assessee failed to satisfactorily explain the nature and source of the sundry creditors and the investment in CMHPL, as required under section 68 of the Income Tax Act. en-us Mon, 29 May 2023 00:00:00 +0530 Tue, 26 Sep 2023 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443528 The ITAT allowed the Revenue's appeal, setting aside the CIT(A)'s order and restoring the AO's addition of Rs. 7,74,32,498/- as unexplained bogus liabilities. The ITAT concluded that the assessee failed to satisfactorily explain the nature and source of the sundry creditors and the investment in CMHPL, as required under section 68 of the Income Tax Act. Case-Laws Income Tax Mon, 29 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443528