Provisions of Section 68 Cannot be applied to Sundry Creditor

DCIT Vs Allied Infra suppliers (ITAT Cuttack)

FACTS –

Rejected claim of sundry creditor of INR 4,42,82,877 since the assessee failed to provide details and documents to prove the genuineness of the same. Addition was made u/s 68

Disallowance u/s 40(a)(ia) – Assessee paid INR 1070713 to M/s. Monalisa without deducting TDS and hence AO disallowed INR 1070713 u/s. 40(a)(ia). Assessee submitted that TDS is deducted and deposited the amou

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