https://www.taxtmi.com/caselaws?id=758480 Additions relating to sundry creditors were examined on the basis of supporting evidence and verification of confirmations. The difference of Rs. 60,529 was sustained because it was unsupported by corroborative material and the assessee's explanation was not accepted. The additions of Rs. 90,79,528 and Rs. 29,60,099 were deleted because confirmation letters had been filed, the authorities did not carry out effective verification despite available particulars, the balances were reflected as opening balances in the next year, and the trading results were not disturbed. Interest under sections 234B and 234C was consequential. en-us Wed, 28 Aug 2024 00:00:00 +0530 Sat, 14 Sep 2024 08:24:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758480 Additions relating to sundry creditors were examined on the basis of supporting evidence and verification of confirmations. The difference of Rs. 60,529 was sustained because it was unsupported by corroborative material and the assessee's explanation was not accepted. The additions of Rs. 90,79,528 and Rs. 29,60,099 were deleted because confirmation letters had been filed, the authorities did not carry out effective verification despite available particulars, the balances were reflected as opening balances in the next year, and the trading results were not disturbed. Interest under sections 234B and 234C was consequential. Case-Laws Income Tax Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758480