https://www.taxtmi.com/caselaws?id=790702 Sundry creditors were held explainable under Section 68 because the assessee furnished confirmations, repayment evidence and records showing genuine trade liabilities, so the addition was deleted. Opening stock and opening capital balance were also accepted where past business history, financial statements and available savings supported the claimed base, so those additions were deleted. The alleged excess bank credit was similarly treated as explained from business activity and available funds, so that addition was deleted. Tuition-fee deduction under Section 80C was allowed because the bank statement and books evidenced payment to the school, so the disallowance was deleted. en-us Fri, 17 Apr 2026 00:00:00 +0530 Wed, 29 Apr 2026 08:16:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790702 Sundry creditors were held explainable under Section 68 because the assessee furnished confirmations, repayment evidence and records showing genuine trade liabilities, so the addition was deleted. Opening stock and opening capital balance were also accepted where past business history, financial statements and available savings supported the claimed base, so those additions were deleted. The alleged excess bank credit was similarly treated as explained from business activity and available funds, so that addition was deleted. Tuition-fee deduction under Section 80C was allowed because the bank statement and books evidenced payment to the school, so the disallowance was deleted. Case-Laws Income Tax Fri, 17 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790702