https://www.taxtmi.com/caselaws?id=71628 A stock statement furnished to a bank can operate as an admission and may prevail over books of account where the assessee does not prove that the statement was wrong. The assessee bears the burden of showing which version reflects the true stock position, especially where the facts lie within its special knowledge. On that basis, an addition for the difference between book stock and bank stock statement was sustainable in principle. However, where the same stock difference recurs across months, the discrepancies should not be aggregated cumulatively; only the peak difference is the proper basis for adjustment. en-us Fri, 16 Feb 2001 00:00:00 +0530 Tue, 26 Apr 2011 12:00:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71628 A stock statement furnished to a bank can operate as an admission and may prevail over books of account where the assessee does not prove that the statement was wrong. The assessee bears the burden of showing which version reflects the true stock position, especially where the facts lie within its special knowledge. On that basis, an addition for the difference between book stock and bank stock statement was sustainable in principle. However, where the same stock difference recurs across months, the discrepancies should not be aggregated cumulatively; only the peak difference is the proper basis for adjustment. Case-Laws Income Tax Fri, 16 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71628