Income Tax Addition u/s 68 cannot sustain when Source of Credit is Explained with Details of Creditors: ITAT [Read Order]

Income Tax Addition- Credit - Creditors - ITAT - taxscan

The Income-Tax Appellate Tribunal, Chennai bench held that an addition to income tax u/s 68 cannot sustain when source of credit is explained with details of creditors. The appellant was represented by Shri S. Sridhar and the respondent was represented by Shri V. Vivekanandan. The search and seizure operations under section 132 of the Act…

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