https://www.taxtmi.com/caselaws?id=165600 Equal time addition for assessment year 1996-97 could not be sustained where the first inspection showed only a stock deficiency unsupported by purchase bills and there was no material linking any omission to that year. Evidence from the later assessment year 1997-98, which disclosed suppression, was held irrelevant to justify an addition for the earlier year because the materials must relate to the transaction under consideration in that assessment year alone. The corresponding penalty also failed. The Tribunal's order was set aside and relief was granted to the assessee. en-us Wed, 27 Apr 2011 00:00:00 +0530 Sat, 02 Aug 2014 14:50:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=165600 Equal time addition for assessment year 1996-97 could not be sustained where the first inspection showed only a stock deficiency unsupported by purchase bills and there was no material linking any omission to that year. Evidence from the later assessment year 1997-98, which disclosed suppression, was held irrelevant to justify an addition for the earlier year because the materials must relate to the transaction under consideration in that assessment year alone. The corresponding penalty also failed. The Tribunal's order was set aside and relief was granted to the assessee. Case-Laws VAT and Sales Tax Wed, 27 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=165600