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of <h1>High Court upholds Rs. 1 lakh penalty for excess stock in tax appeal</h1> <h3>Girraj Industries Versus Union of India And Others.</h3> The High Court of Rajasthan upheld the addition of Rs. 1 lakh for excess stock found during a search, dismissing the appeal. The Tribunal had reduced the ... Search - Addition on account of excess stock - whether the addition can be sustained on account of excess stock found during the search – Impugned question is basically a question of fact specially when no stock register was produced during the search when the question was put for this excess raw material, which was found, how this excess stock is available with the assessee - Considering the fact that the issue involved is basically a question of fact and admittedly the stock in excess was found and it was not explained at the time of search and as the Tribunal has already given substantial relief by reducing the addition of Rs. 2,35,953 to Rs. 1 lakh, no case is made out for admission. The High Court of Rajasthan dismissed the appeal regarding the addition of Rs. 1 lakh on account of excess stock found during a search. The Tribunal reduced the addition from Rs. 2,35,953 to Rs. 1 lakh, but the court found no reason to admit the case as the issue was a question of fact and the excess stock was not explained during the search.
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