https://www.taxtmi.com/caselaws?id=773359 The ITAT dismissed Revenue's appeals across AYs 2014-15, 2015-16, and 2016-17 challenging disallowance of expenditure under section 37(1) on grounds of alleged bogus creditors. The Tribunal upheld CIT(A)'s deletion of additions totaling Rs. 3,32,86,216/-, finding that creditors responded to section 133(6) notices, confirmed transactions, filed returns declaring income from assessee, and assessee deducted TDS with proper documentation. Despite field enquiries revealing absence of signboards at creditor premises, the Tribunal held this insufficient to establish bogus nature without concrete adverse evidence. The court emphasized that mere suspicion cannot justify disallowance when statutory compliances are met and creditors offer income to tax. en-us Wed, 11 Jun 2025 00:00:00 +0530 Sat, 21 Jun 2025 08:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773359 The ITAT dismissed Revenue's appeals across AYs 2014-15, 2015-16, and 2016-17 challenging disallowance of expenditure under section 37(1) on grounds of alleged bogus creditors. The Tribunal upheld CIT(A)'s deletion of additions totaling Rs. 3,32,86,216/-, finding that creditors responded to section 133(6) notices, confirmed transactions, filed returns declaring income from assessee, and assessee deducted TDS with proper documentation. Despite field enquiries revealing absence of signboards at creditor premises, the Tribunal held this insufficient to establish bogus nature without concrete adverse evidence. The court emphasized that mere suspicion cannot justify disallowance when statutory compliances are met and creditors offer income to tax. Case-Laws Income Tax Wed, 11 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773359