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2012 (12) TMI 367 - ITAT CHENNAIAddition made on account of unproved trade creditors – Bogus trade creditors - Additions were made based on the report of the Income Tax Inspector – Held that:- Following the decision in case of Smt. Rolex Sugunamary (2012 (10) TMI 412 - ITAT CHENNAI) that the purchases made by the assessee during the period and payments were also made through banking channels. The AO has not disputed the purchases and the payments made by the assessee. The trading results have also not been disturbed. The report of Inspector cannot stand against the overwhelming evidence referred. Delete the addition. Issue decides in favour of assessee
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