Sundry creditors cannot be doubted if AO accepts purchase, sales & net profit declared in return 

Srabani Construction (P) Ltd Vs DCIT (ITAT Cuttack) In respect of addition of Rs.51,84,803/- made by the AO u/s.68 of the Act with regard to sundry creditors, on observing the financial statement it is found that the assessee could not produce the creditors as well as could not satisfy the three ingredients i.e. identity, creditworthiness and genuineness of the transaction as per the Section 68 of the Act and accordingly, the same was added to the total income of the assessee. The assessee has filed return of income declaring at Rs.4,41,370/- which has been accepted by the AO while determining...