https://www.taxtmi.com/caselaws?id=798292 Unverified trade-credit entries cannot be accepted merely because they are recorded as sundry creditors. Section 68 requires evidentiary examination of credits, including support for any claimed exemption under Section 10(23B); the credit additions and exemption claim require fresh factual verification. Similarly, reduction of a business-expenditure disallowance cannot rest on an unsupported percentage estimate. Evidence substantiating the expenditure must be examined before relief is granted under Section 37(1). The relevant credits, expenditure and exemption claim require reconsideration on the evidentiary record in fresh assessment proceedings. en-us Mon, 31 Aug 2026 00:00:00 +0530 Fri, 04 Sep 2026 08:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798292 Unverified trade-credit entries cannot be accepted merely because they are recorded as sundry creditors. Section 68 requires evidentiary examination of credits, including support for any claimed exemption under Section 10(23B); the credit additions and exemption claim require fresh factual verification. Similarly, reduction of a business-expenditure disallowance cannot rest on an unsupported percentage estimate. Evidence substantiating the expenditure must be examined before relief is granted under Section 37(1). The relevant credits, expenditure and exemption claim require reconsideration on the evidentiary record in fresh assessment proceedings. Case-Laws Income Tax Mon, 31 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798292