2013 (9) TMI 1246

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....ons of law; (A) Whether on facts and circumstances of the case and in law, the tribunal has erred in law in deleting the addition of Rs. 45,72,591/- made by the Assessing Officer under Section 41(1) of the Act and confirmed by the learned CIT(A)? (B) Whether on facts and circumstances of the case and in law, the tribunal has erred in law by not appreciating the fact that assessee has not furnished confirmations in respect of sundry creditors in question even after providing sufficient opportunities? (C) Whether on facts and circumstances of the case and in law, the tribunal has erred in law by not appreciating the fact that assessee has not established the existence of the trading liability in respect of these sun....

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.... Assessing Officer in treating the sundry creditors to the extent of Rs. 45,72,591/- as ceased to exist during the accounting year for the relevant assessment year under consideration. 2.3. Being aggrieved and dissatisfied with the order passed by the CIT(A), the assessee preferred appeal before the ITAT and by impugned judgment and order ITAT has allowed the said appeal directing to delete the addition made by the Assessing Officer for Rs. 45,72,591/- under Section 41(1) of the Act, which came to be further confirmed by the CIT(A). Being aggrieved and dissatisfied with the impugned judgment and order passed by the ITAT, the revenue is before this Court by way of the present Tax Appeal with the aforesaid proposed question of law. 3. H....