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scrutiny assessment

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(Querist)
29 September 2008 Dear colleagues,

In one of my scrutiny assessment,assessee has around 4 lacs creditors which are not confirming say bogus and likewise 3 lacs debtors (bogus).

What will be addition
4lcs or 7 lacs or 1 lacs.My contention with A.O.is it should be 1 lac (net of creditors & debtors)

Kindly have your view

Regards
c.a.paresh zatakia
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
29 September 2008 It depends upon how the creditors and debtors were incorporated in the accounts (that is the entry through wich)

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