https://www.taxtmi.com/caselaws?id=217103 The Tribunal allowed the appeal, overturning the addition made under section 69 of the I.T. Act, 1961. The appellant successfully argued that the stock addition was based solely on a loose sheet without sufficient corroborative evidence. As the books of account were not rejected and previous year's closing stock was accepted, the Tribunal ruled in favor of the appellant, emphasizing the importance of corroborative evidence and rejecting the legal presumption under section 292C. en-us Fri, 27 Jul 2012 00:00:00 +0530 Sat, 08 Sep 2012 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217103 The Tribunal allowed the appeal, overturning the addition made under section 69 of the I.T. Act, 1961. The appellant successfully argued that the stock addition was based solely on a loose sheet without sufficient corroborative evidence. As the books of account were not rejected and previous year's closing stock was accepted, the Tribunal ruled in favor of the appellant, emphasizing the importance of corroborative evidence and rejecting the legal presumption under section 292C. Case-Laws Income Tax Fri, 27 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217103