https://www.taxtmi.com/caselaws?id=184625 The tribunal overturned the addition made under section 69 of the Act based on excess stock found, emphasizing the lack of physical verification and concrete evidence supporting the stock values. The tribunal held that no addition can be made solely based on inflated stock statements without proof of actual physical stock. The decision underscores the necessity of factual substantiation and proper verification in cases involving unexplained investments, particularly regarding stock values. The tribunal allowed the appeal, highlighting the importance of evidence in challenging tax assessments. en-us Fri, 18 Jan 2013 00:00:00 +0530 Thu, 14 Jul 2016 16:05:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184625 The tribunal overturned the addition made under section 69 of the Act based on excess stock found, emphasizing the lack of physical verification and concrete evidence supporting the stock values. The tribunal held that no addition can be made solely based on inflated stock statements without proof of actual physical stock. The decision underscores the necessity of factual substantiation and proper verification in cases involving unexplained investments, particularly regarding stock values. The tribunal allowed the appeal, highlighting the importance of evidence in challenging tax assessments. Case-Laws Income Tax Fri, 18 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184625