2025 (3) TMI 2035

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....DER PER DR. MANISH BORAD, ACCOUNTANT MEMBER : This appeal at the instance of the assessee is directed against the order of Ld. CIT Appeal (NFAC) u/s 250 of the Income-tax Act, 1961 dated 05.08.2024 which is arising out of Order passed u/s.143(3) r.w.s. 144B of the Act dated 24.12.2019. 2. The instant appeal is time barred by 29 days. Application for condonation of delay alongwith affidavi....

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....l contentions and perused the record placed before us. The assessee is a Private Limited Company engaged in business of manufacturing of spices and income of Rs. 17,59,420/- declared in the e-return for A.Y. 2017-18 furnished on 31.10.2017. So far as the issue raised in this appeal is concerned, Ld. AO asked the assessee to explain the dedication/creditworthiness and genuineness of Sundry Creditor....

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....ing the smallness of the issue and also observing that the assessee is having a turnover of approx. 16.24 crores and also against purchase of 14.2 crores outstanding sundry creditors at the year end are only Rs. 57,17,055/-, we deem it proper to examine the facts of the case at our end. 7. We have gone through the audited financial statements, list of Sundry Credits placed at page No. 65-69 and....