https://www.taxtmi.com/caselaws?id=240255 The CIT (A)'s order was upheld, and the appeal filed by the department was dismissed. The CIT (A) correctly deleted the addition of Rs. 8,13,31,097/- made by the AO, as the stock statement submitted to the bank was on an estimate basis and the books of accounts were not rejected. The addition under Section 69 was not applicable, and the explanation provided by the assessee regarding the discrepancy in stock valuation was accepted. en-us Tue, 26 Nov 2013 00:00:00 +0530 Fri, 29 Nov 2013 06:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240255 The CIT (A)'s order was upheld, and the appeal filed by the department was dismissed. The CIT (A) correctly deleted the addition of Rs. 8,13,31,097/- made by the AO, as the stock statement submitted to the bank was on an estimate basis and the books of accounts were not rejected. The addition under Section 69 was not applicable, and the explanation provided by the assessee regarding the discrepancy in stock valuation was accepted. Case-Laws Income Tax Tue, 26 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240255