https://www.taxtmi.com/caselaws?id=220570 The Tribunal upheld the CIT(A)'s decision to delete additions of Rs.10,00,000/- for suppressed turnover and Rs.34,87,903/- for excess stock in the case involving a sole proprietor of a business engaged in pottery and art sales. The appellant's explanations regarding consignment stock and turnover details below Rs.10 lakhs were considered, with confirmations from artists supporting the claim that the stock did not belong to her. The Tribunal found the additions unjustified, as the excess stock belonged to artists and was meant for sale on a commission basis. en-us Fri, 23 Nov 2012 00:00:00 +0530 Thu, 31 Jan 2013 01:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220570 The Tribunal upheld the CIT(A)'s decision to delete additions of Rs.10,00,000/- for suppressed turnover and Rs.34,87,903/- for excess stock in the case involving a sole proprietor of a business engaged in pottery and art sales. The appellant's explanations regarding consignment stock and turnover details below Rs.10 lakhs were considered, with confirmations from artists supporting the claim that the stock did not belong to her. The Tribunal found the additions unjustified, as the excess stock belonged to artists and was meant for sale on a commission basis. Case-Laws Income Tax Fri, 23 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220570