https://www.taxtmi.com/caselaws?id=769826 ITAT Pune ruled in favor of the assessee on two tax additions. First, regarding proprietor's capital account differences, the tribunal found confusion between business and personal balance sheet capital accounts, directing deletion of the addition as the AO and CIT(A) failed to appreciate the distinction. Second, concerning sundry creditors, the tribunal held that reclassification from "sundry creditor" to "unsecured loans" was merely nomenclature change without figure differences, directing deletion of this addition as well. Both lower authorities' orders were set aside. en-us Tue, 18 Mar 2025 00:00:00 +0530 Fri, 02 May 2025 08:54:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769826 ITAT Pune ruled in favor of the assessee on two tax additions. First, regarding proprietor's capital account differences, the tribunal found confusion between business and personal balance sheet capital accounts, directing deletion of the addition as the AO and CIT(A) failed to appreciate the distinction. Second, concerning sundry creditors, the tribunal held that reclassification from "sundry creditor" to "unsecured loans" was merely nomenclature change without figure differences, directing deletion of this addition as well. Both lower authorities' orders were set aside. Case-Laws Income Tax Tue, 18 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769826