https://www.taxtmi.com/caselaws?id=258670 The HC upheld the addition for alleged inflated gold purchases and the related finding of suppression of 25 kilograms of gold, holding that the reassessment was supported by audited accounts, purchase particulars, stock records and brand markings. The assessee's explanation about earlier receipt, later billing and replacement was found inconsistent with the record. The Court accepted that the Assessing Officer, CIT(A) and Tribunal had adopted a possible view on the evidence, and the factual findings were not shown to be perverse. The challenge to the addition therefore failed. en-us Tue, 17 Mar 2015 00:00:00 +0530 Thu, 16 Apr 2015 11:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258670 The HC upheld the addition for alleged inflated gold purchases and the related finding of suppression of 25 kilograms of gold, holding that the reassessment was supported by audited accounts, purchase particulars, stock records and brand markings. The assessee's explanation about earlier receipt, later billing and replacement was found inconsistent with the record. The Court accepted that the Assessing Officer, CIT(A) and Tribunal had adopted a possible view on the evidence, and the factual findings were not shown to be perverse. The challenge to the addition therefore failed. Case-Laws Income Tax Tue, 17 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258670