https://www.taxtmi.com/caselaws?id=206407 The appeal under Section 260A of the Income Tax Act was dismissed by the High Court. The court upheld the decision of the Tribunal and CIT(A) regarding the addition to declared income based on the value of hypothecated stock. The court emphasized that the stock statement to the bank is not conclusive for income computation and must be evaluated based on specific circumstances. Since no perversity was shown in the concurrent findings of fact, the appeal was dismissed, highlighting that the stock statement alone cannot determine the value of stock. en-us Tue, 01 Mar 2011 00:00:00 +0530 Mon, 31 Oct 2011 07:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206407 The appeal under Section 260A of the Income Tax Act was dismissed by the High Court. The court upheld the decision of the Tribunal and CIT(A) regarding the addition to declared income based on the value of hypothecated stock. The court emphasized that the stock statement to the bank is not conclusive for income computation and must be evaluated based on specific circumstances. Since no perversity was shown in the concurrent findings of fact, the appeal was dismissed, highlighting that the stock statement alone cannot determine the value of stock. Case-Laws Income Tax Tue, 01 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206407