Addition unsustainable as department failed to prove that sundry creditors are bogus

Advertisement ACIT Vs Al Nasir Agro Foods (ITAT Delhi) ITAT Delhi held that addition of sundry creditors u/s 68/69C of the Income Tax Act unsustainable as department failed to prove that the sundry creditors are bogus. Facts- The assessee has shown sundry creditors towards purchase of raw meat of Rs.4,95,25,264/- as on 31.03.2012. AO asked the assessee to submit evidence/proof of the raw meat purchased, transportation bills, ledger account of purchase and of creditors alongwith list of sundry creditors etc. Further, the assessee has provided list of around 400 sundry creditors having name a...