https://www.taxtmi.com/caselaws?id=183431 The High Court of Allahabad rejected an application u/s 256(2) of the Income-tax Act, 1961, regarding the addition to the assessee's income due to a stock valuation discrepancy. The Tribunal upheld the addition, emphasizing the assessee's failure to prove the stock valuation difference was not real. The Court found the Tribunal's decision well-founded, citing past rulings supporting such additions to income. Ultimately, the Court affirmed the Tribunal's decision, concluding the addition was justified based on the evidence. The application u/s 256(2) was rejected by the High Court of Allahabad. en-us Mon, 29 Sep 1997 00:00:00 +0530 Thu, 09 Jun 2016 11:03:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183431 The High Court of Allahabad rejected an application u/s 256(2) of the Income-tax Act, 1961, regarding the addition to the assessee's income due to a stock valuation discrepancy. The Tribunal upheld the addition, emphasizing the assessee's failure to prove the stock valuation difference was not real. The Court found the Tribunal's decision well-founded, citing past rulings supporting such additions to income. Ultimately, the Court affirmed the Tribunal's decision, concluding the addition was justified based on the evidence. The application u/s 256(2) was rejected by the High Court of Allahabad. Case-Laws Income Tax Mon, 29 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183431