https://www.taxtmi.com/caselaws?id=206713 The Tribunal allowed the appeal for statistical purposes and remanded the case to the CIT (A) for re-adjudication. The Tribunal directed the CIT (A) to provide the assessee with a fair hearing and to present evidence demonstrating the inaccuracy of the stock statement submitted to the bank. The burden of proof was placed on the assessee to establish that the stock quantity reported to the bank was incorrect. The Tribunal stressed the importance of thorough verification from both the assessee's records and bank officials to determine the accuracy of the stock statements. en-us Tue, 30 Nov 2010 00:00:00 +0530 Sat, 23 Jul 2011 10:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206713 The Tribunal allowed the appeal for statistical purposes and remanded the case to the CIT (A) for re-adjudication. The Tribunal directed the CIT (A) to provide the assessee with a fair hearing and to present evidence demonstrating the inaccuracy of the stock statement submitted to the bank. The burden of proof was placed on the assessee to establish that the stock quantity reported to the bank was incorrect. The Tribunal stressed the importance of thorough verification from both the assessee's records and bank officials to determine the accuracy of the stock statements. Case-Laws Income Tax Tue, 30 Nov 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206713