https://www.taxtmi.com/caselaws?id=469622 Sundry creditors arising from credit purchases were treated as trade liabilities and not as cash credits for section 68 purposes where the books were not rejected and the corresponding purchases or business expenditure were not disbelieved. On those facts, the cash credit enquiry could not be applied in the same manner as for unexplained cash receipts, because the liability was already recorded in the books and linked to genuine business transactions. The addition under section 68 was therefore held unsustainable and deleted. en-us Tue, 04 Feb 2025 00:00:00 +0530 Wed, 15 Jul 2026 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469622 Sundry creditors arising from credit purchases were treated as trade liabilities and not as cash credits for section 68 purposes where the books were not rejected and the corresponding purchases or business expenditure were not disbelieved. On those facts, the cash credit enquiry could not be applied in the same manner as for unexplained cash receipts, because the liability was already recorded in the books and linked to genuine business transactions. The addition under section 68 was therefore held unsustainable and deleted. Case-Laws Income Tax Tue, 04 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469622