https://www.taxtmi.com/highlights?id=91131 The ITAT set aside the addition of Rs. 1 crore made by the AO on account of unverified purchases, holding that the assessee had furnished adequate details, including purchase and sales invoices, sundry creditors exceeding Rs. 1 lakh with full particulars, and no defect was pointed out by the AO. The tribunal found the addition unjustified and ruled in favor of the assessee. Further, the addition under section 68 read with section 115BBE related to advances from customers was deleted, as the assessee rectified the erroneous classification of a loan as an advance through journal entries. Regarding the addition under section 69A for unexplained cash deposits, the tribunal accepted the assessee's explanation supported by cash books, sales regis..... en-us Fri, 01 Aug 2025 08:15:09 +0530 Fri, 01 Aug 2025 08:15:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=91131 The ITAT set aside the addition of Rs. 1 crore made by the AO on account of unverified purchases, holding that the assessee had furnished adequate details, including purchase and sales invoices, sundry creditors exceeding Rs. 1 lakh with full particulars, and no defect was pointed out by the AO. The tribunal found the addition unjustified and ruled in favor of the assessee. Further, the addition under section 68 read with section 115BBE related to advances from customers was deleted, as the assessee rectified the erroneous classification of a loan as an advance through journal entries. Regarding the addition under section 69A for unexplained cash deposits, the tribunal accepted the assessee's explanation supported by cash books, sales regis..... Highlights Income Tax Fri, 01 Aug 2025 08:15:09 +0530 https://www.taxtmi.com/highlights?id=91131