https://www.taxtmi.com/caselaws?id=449549 The ITAT Kolkata ruled in favor of the assessee regarding rejection of sundry creditors. The AO had rejected sundry creditors solely because they failed to respond to verification notices under section 133(6). The tribunal held this rejection was unjustified, noting the assessee provided coherent evidence including payment records, purchase bills, VAT registration, returns, and party confirmations. The tribunal emphasized that verification extends beyond mere compliance with section 133(6) notices, and since purchases/sales were accepted by the AO with no discrepancies found, the addition was unwarranted. en-us Mon, 12 Feb 2024 00:00:00 +0530 Wed, 14 Feb 2024 07:15:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449549 The ITAT Kolkata ruled in favor of the assessee regarding rejection of sundry creditors. The AO had rejected sundry creditors solely because they failed to respond to verification notices under section 133(6). The tribunal held this rejection was unjustified, noting the assessee provided coherent evidence including payment records, purchase bills, VAT registration, returns, and party confirmations. The tribunal emphasized that verification extends beyond mere compliance with section 133(6) notices, and since purchases/sales were accepted by the AO with no discrepancies found, the addition was unwarranted. Case-Laws Income Tax Mon, 12 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449549