https://www.taxtmi.com/caselaws?id=330083 The court upheld the ITAT order, ruling in favor of the assessee in a challenge to the addition made for discrepancies in stock statements for availing higher credit facilities during the block period 01/04/1994 to 08/08/2000. Citing previous judgments, the court held that explanations for discrepancies in stock statements provided to banks can warrant deletion of additions, especially when supported by audits and financial ratios. The court dismissed the appeal, emphasizing that the issue had been settled in previous decisions, favoring the assessee against the Department. en-us Wed, 13 Jul 2016 00:00:00 +0530 Thu, 21 May 2026 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330083 The court upheld the ITAT order, ruling in favor of the assessee in a challenge to the addition made for discrepancies in stock statements for availing higher credit facilities during the block period 01/04/1994 to 08/08/2000. Citing previous judgments, the court held that explanations for discrepancies in stock statements provided to banks can warrant deletion of additions, especially when supported by audits and financial ratios. The court dismissed the appeal, emphasizing that the issue had been settled in previous decisions, favoring the assessee against the Department. Case-Laws Income Tax Wed, 13 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330083