Dismissing the appeal of the revenue the Court held that merely on ground that assessee failed to furnish PAN or correct address of those creditors additions cannot be made in respect of sundry creditors shown in books of account. (AY. 2011 -12)
PCIT v. B.T. Nagraj Reddy (2019) 264 Taxman 228 (Karn.)(HC)
S. 41(1) : Profits chargeable to tax – Remission or cessation of trading liability -Sundry creditors shown in books of account merely on ground that assessee failed to furnish PAN or correct address of those creditors additions cannot be made.