ITAT deletes Income Tax Addition u/s 68 When Assessee submitted Corroborative Evidence related to Creditors [Read Order]

By Yogitha S. Yogesh - On January 9, 2023 3:06 pm - 2 mins read
ITAT deletes Income Tax Addition - ITAT - Income Tax Addition - Income Tax - Corroborative Evidence - Creditors - Assessee - Taxscan

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of unexplained Creditors under section 68 of the Income Tax Act,1961 when the assessee submitted Corroborative Evidence related to creditors. Sohanraj Khimraj Kothari, the assessee challenged the action of the Revenue authorities in making the addition of Rs.1,61,960/- on account of unexplained…

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