Section 68 not empower AO to make addition of sundry debtors/ advance to growers

ACIT Vs HN Agri Serve P. Ltd (ITAT Amritsar)

ITAT Amritsar held that section 68 of the Income Tax Act is not empowered to allow addition of sundry debtors/ advance to growers. Accordingly, addition of the same deleted.

Facts- The assessee is a dealer of fresh fruits and commission agent besides under a cold storage plant. In the preceding year for A.Y. 2016-17, the sundry debtors amount of Rs.6,14,67,226/- was reflected in the books of account of the assessee which was fin

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