Held that the assessee had filed confirmations of sundry creditors for purchases and discrepancies in opening balance as per balance sheet had been duly reconciled. Deletion of addition by CIT(A) is affirmed. (AY. 2012-13)
DCIT v. AYG Realty Ltd. (2022) 197 ITD 448 (Mum.)(Trib.)
S. 69C : Unexplained expenditure-Ad-hoc addition of sundry creditors-20 percent of purchases-Discrepancies in balance sheet was reconciled-Addition is not valid. [S. 145]