Non-Filing of Evidence: ITAT upholds Addition of Sundry Creditors Balances [Read Order]

The tribunal upheld the addition of Rs. 60,529 due to the assessee’s failure to provide supporting evidence
By Sneha Sukumaran Mullakkal - On September 17, 2024 3:52 pm - 2 mins read
ITAT - ITAT Bangalore - Sundry Creditors Balances - Non-Filing of Evidence - Taxscan

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) upheld the Assessing Officer ( AO )’s addition of Rs. 60,529 to the income of the assessee due to non-filing of evidence for discrepancies in sundry creditors’ balances. Sha Thanmal Sukhraj Jain & Co.,the appellant-assessee,filed a return on 27.09.2012 declaring Rs.3,24,040. The case was…

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