Addition u/s. 69C deleted as outstanding trade creditors clearly established: ITAT Chennai

DCIT Vs Anbu Infratech Pvt. Ltd. (ITAT Chennai) ITAT Chennai held that CIT(A) rightly deleted the addition under section 69C of the Income Tax Act towards trade creditors since assessee clearly established the trade creditors payable was outstanding and clearly allowable and not outside the books of accounts or cash. Facts- The present appeal is preferred by the revenue. The only issue in this appeal of the Revenue is against the order of CIT(A) deleting addition made by the AO towards unexplained expenditure u/s.69C of the Act in respect of trade payable settled outside books of accounts. Con...