https://www.taxtmi.com/caselaws?id=71267 The Tribunal dismissed the Department's appeal against the deletion of an addition of Rs. 16,87,069 for undisclosed stock. The CIT(A) found no defects in the books of account and noted that the stock disclosed to the bank included stock held by the directors personally. The Tribunal emphasized that the discrepancy favored the assessee, as the stock hypothecated to the bank was within expectations. It differentiated the case from precedents involving stock pledges and confirmed the CIT(A)'s decision to delete the addition, ultimately dismissing the Revenue's appeal. en-us Tue, 31 Jan 2006 00:00:00 +0530 Wed, 18 Jul 2012 11:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71267 The Tribunal dismissed the Department's appeal against the deletion of an addition of Rs. 16,87,069 for undisclosed stock. The CIT(A) found no defects in the books of account and noted that the stock disclosed to the bank included stock held by the directors personally. The Tribunal emphasized that the discrepancy favored the assessee, as the stock hypothecated to the bank was within expectations. It differentiated the case from precedents involving stock pledges and confirmed the CIT(A)'s decision to delete the addition, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Tue, 31 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71267