2017 (5) TMI 1585

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.... For the Respondent : Manish Misra 1. Heard Shri Fuzail Ahmad, Advocate assisted by Shri Mukteshwar Mishra, learned counsel for appellant and Shri Alok Mathur for respondents. 2. This appeal under Section 260A of Income Tax Act, 1961 (hereinafter referred to as the 'Act, 1961') has arisen from judgment and order dated 03.02.2016 passed by Income Tax Appellate Tribunal, Lucknow Bench....

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....sessing Officer made addition of said amount but it was deleted by CITA on the basis that opening balance of unpaid liability of material and labour, etc., of Rs. 2,17,03,387/cannot be treated unpaid liability in the hands of Assessee during previous year. He said that Tribunal erred in allowing aforesaid addition in the Assessment Year in question, i.e., 201011. 5. However, we find no force in....

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....s. 277.01 lacs is in respect of amount credited in the present year without disclosing the name of the creditors and their identity etc. and under these facts, in our considered opinion, the order of CIT(A) is not sustainable because Assessee has not been able to establish the names, addresses and identity and creditworthiness of the creditors and therefore, we reverse the order of CIT(A) on this ....