24 December 2011
The Assesee is doing leather business and his balance of sundry creditors on 31.03.2008 stood Rs 1.40 lakhs. All the creditors were small villagers who sell wet blue skin and the assessee during the next year repaid the trade credit. Now the Assessing Officer asks the address of creditors which the assessee is unable to produce. Kindly help
As per my Experience,if you have Purchase bill copy of that Creditor then you can get address for it, Another option is to make application to AO for not availability of address by providing GENUINE reason then you can released from this situation.
24 December 2011
There are no purchase bills due to the nature of small creditors. But All Sales tax forms representing purchases and sales have been made
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