https://www.taxtmi.com/caselaws?id=253586 The Tribunal upheld the addition of Rs. 35 lakhs for undisclosed stock, rejecting the claim of forced surrender due to lack of evidence. The Assessing Officer's addition was restored, overturning the CIT(A)'s deletion. However, the deletion of Rs. 20 lakhs based on the lower G.P. rate was upheld by the Tribunal, agreeing with the historical consistency and nature of the business. The Revenue's appeal was partly allowed, restoring the undisclosed stock addition but dismissing the appeal regarding the G.P. rate addition. en-us Fri, 21 Nov 2014 00:00:00 +0530 Fri, 28 Nov 2014 10:36:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253586 The Tribunal upheld the addition of Rs. 35 lakhs for undisclosed stock, rejecting the claim of forced surrender due to lack of evidence. The Assessing Officer's addition was restored, overturning the CIT(A)'s deletion. However, the deletion of Rs. 20 lakhs based on the lower G.P. rate was upheld by the Tribunal, agreeing with the historical consistency and nature of the business. The Revenue's appeal was partly allowed, restoring the undisclosed stock addition but dismissing the appeal regarding the G.P. rate addition. Case-Laws Income Tax Fri, 21 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253586