2015 (3) TMI 807

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....eved and dissatisfied with the impugned judgment and order passed by the learned Income Tax Appellate Tribunal, Ahmedabad (hereinafter referred to as 'the tribunal') dated 20/06/2014 in ITA No.35/Ahd/2011 for the Assessment Year 2007-08 by which the learned tribunal has allowed the said Appeal preferred by the assessee and has deleted the addition of Rs. 3,82,228/- made under Section 41(1) of the ....

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....ing the course of the assessment proceedings, on verification of the books of accounts and the details submitted by the assessee it was noticed by the Assessing Officer that the assessee had shown sundry creditors in the balance sheet amounting to Rs. 31,92,758/-. The assessee was then requested to furnish contra confirmation alongwith the I.D. Proof of such creditors. However, the assessee did no....

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....ould not be added in the total income treating the same as bogus liability under Section 41(1) of the Act. Thereafter, the Assessing Officer finalized the return and made the addition of Rs. 31,82,258/- under Section 41(1) of the Act; Rs. 13,51,347/- was claimed towards unpaid salary, unpaid tyre and tube expenses, unpaid vehicle expenses and unpaid diesel expenses and also made the addition of Rs....

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....nder Section 41(1) of the Act. (2.5) Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the learned tribunal in deleting the additions made under Section 41(1) of the Act, the revenue has preferred the present Tax Appeal with the aforesaid proposed question of law. (3.0) We have heard Ms. Mauna Bhatt, learned advocate appearing on behalf of the appellant and peruse....