https://www.taxtmi.com/caselaws?id=798817 Section 68 treatment of an outstanding trade-creditor balance requires verification where purchases, corresponding sales and stock are accepted and additional evidence supports the creditor's identity and genuineness. Confirmation, ledgers, invoices, banking records, GST registration, tax returns, and evidence concerning destroyed records were admitted for fresh verification; no addition is to be made if the evidence is discrepancy-free. Tax deduction on purchases is not required twice where the seller has already collected tax at source before the buyer could deduct it. Consequently, disallowance for non-deduction of tax on those purchase payments cannot survive. en-us Wed, 09 Sep 2026 00:00:00 +0530 Sat, 12 Sep 2026 08:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=798817 Section 68 treatment of an outstanding trade-creditor balance requires verification where purchases, corresponding sales and stock are accepted and additional evidence supports the creditor's identity and genuineness. Confirmation, ledgers, invoices, banking records, GST registration, tax returns, and evidence concerning destroyed records were admitted for fresh verification; no addition is to be made if the evidence is discrepancy-free. Tax deduction on purchases is not required twice where the seller has already collected tax at source before the buyer could deduct it. Consequently, disallowance for non-deduction of tax on those purchase payments cannot survive. Case-Laws Income Tax Wed, 09 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=798817