https://www.taxtmi.com/caselaws?id=176501 The Tribunal upheld the Ld. CIT(A)'s decision to delete the Rs. 40 lakhs addition to the assessee's declared income. The Tribunal emphasized that deficit stock alone cannot be considered as income, especially when the assessee had already admitted additional income and maintained consistent gross profit levels. The lack of evidence and reconciliation by the Revenue further supported the deletion of the addition. en-us Wed, 01 Oct 2014 00:00:00 +0530 Wed, 23 Dec 2015 21:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176501 The Tribunal upheld the Ld. CIT(A)'s decision to delete the Rs. 40 lakhs addition to the assessee's declared income. The Tribunal emphasized that deficit stock alone cannot be considered as income, especially when the assessee had already admitted additional income and maintained consistent gross profit levels. The lack of evidence and reconciliation by the Revenue further supported the deletion of the addition. Case-Laws Income Tax Wed, 01 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176501