https://www.taxtmi.com/caselaws?id=236613 The Tribunal partly allowed the appeal, upholding the addition of Rs. 2,60,020 due to a stock discrepancy but restricting the disallowance of interest to one percent of the total exempt income. The decision was based on the absence of a stock register and unreliable explanations provided by the assessee. The Tribunal referenced relevant cases to support its decision, emphasizing that practices aimed at inflating stock for obtaining higher loans cannot be accepted judicially. en-us Thu, 09 Aug 2012 00:00:00 +0530 Wed, 10 Oct 2018 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236613 The Tribunal partly allowed the appeal, upholding the addition of Rs. 2,60,020 due to a stock discrepancy but restricting the disallowance of interest to one percent of the total exempt income. The decision was based on the absence of a stock register and unreliable explanations provided by the assessee. The Tribunal referenced relevant cases to support its decision, emphasizing that practices aimed at inflating stock for obtaining higher loans cannot be accepted judicially. Case-Laws Income Tax Thu, 09 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236613