ITAT Bangalore Remands ₹49L Sec 68 Addition & ₹3.74L TDS Disallowance for Fresh Verification

Shanker Mahadevan Iyer Vs ITO (ITAT Bangalore) The Bangalore ITAT set aside additions relating to sundry creditors (₹49.43 lakh) and TDS disallowance u/s 40(a)(ia) (₹3.74 lakh), holding that both issues require fresh factual verification and proper adjudication. On the issue of sundry creditors, the AO treated balances as unexplained u/s 68 due to: Non-response to notices u/s 133(6), Differences in balances, and Lack of confirmations. However, the Tribunal noted that the assessee had submitted detailed party-wise explanations, reconciliations, ledger extracts, and invoices, but the CIT(A...