2025 (3) TMI 2060

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....Ananya Kapoor, Adv. For the Revenue : Ms. Rini Handa, Sr. DR ORDER PER SATBEER SINGH GODARA, JUDICIAL MEMBER: This assessee's appeal for Assessment Year 2013-14, arises against the CIT(A), Moradabad's in case No. 307/ITO(E)/BLY/2015-16 dated 20.02.2017, in proceedings u/s 143(3) of the Income Tax Act, 1961 (in short "the Act"). 2. Heard both the parties at length. Case file perused.....

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....urther erred in law and facts of the case, by sustaining addition on account of outstanding creditors to the tune of Rs. 41,84272/- merely because the notices u/s 133(6) had remained unserved/no compliance made, and when the transactions with such creditors was never doubted at any stage of assessment/remand proceedings." 4. Learned counsel states very fairly that the assessee does not wish to ....

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.... years which had opening balance of Rs. 87,48,000/- as on 01.04.2012. The assessee therefore appears to have raised it's impugned interest claim on accrual than on actual payment basis. 6. Faced with this situation, we hereby quote Chainrup Sampatram Vs. CIT (1953) 24 ITR 461 (SC) and Bharat Earth Movers Vs. CIT (2000) 245 ITR 428 (SC) that even such an anticipated interest liability on accrual....