2023 (3) TMI 617 - AT - Income Tax

Addition u/s 41(1) - outstanding balances of sundry creditors and other liabilities - HELD THAT:- We note that despite several notices none appeared on behalf of the assessee and the notices of hearing have returned unserved. Hence, we are proceeding to adjudicate the issue by hearing the DR and perusing the records. We note that the issue has been dealt with by the Ld. CIT(A) elaborately as above. Unconfirmed bill, advance from customers and sundry creditors which are static creditors were there for which the assessee could not provide any confirmation or explanation. In these circumstances, in our considered opinion, the authorities below have passed a reasonable order, we do not need any interference on our part. Accordingly, we uphold the same. Appeal of the assessee stands dismissed.