https://www.taxtmi.com/caselaws?id=120139 An addition for alleged excess stock found during survey was unsustainable because the inventory was not shown to have been physically verified in the presence of responsible persons, the affidavits supporting the assessee were not rebutted, and surrounding facts indicated a slip-shod inventory; the deletion in favour of the assessee was upheld. Surcharge was also held not leviable on undisclosed income assessed in block proceedings where the search occurred before the prospective insertion of the proviso to section 113, so the relief granted to the assessee was sustained. The revenue's appeal failed on both issues. en-us Fri, 09 Jun 2006 00:00:00 +0530 Tue, 17 Jul 2012 11:59:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120139 An addition for alleged excess stock found during survey was unsustainable because the inventory was not shown to have been physically verified in the presence of responsible persons, the affidavits supporting the assessee were not rebutted, and surrounding facts indicated a slip-shod inventory; the deletion in favour of the assessee was upheld. Surcharge was also held not leviable on undisclosed income assessed in block proceedings where the search occurred before the prospective insertion of the proviso to section 113, so the relief granted to the assessee was sustained. The revenue's appeal failed on both issues. Case-Laws Income Tax Fri, 09 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120139