https://www.taxtmi.com/caselaws?id=330367 The High Court allowed the appeal and quashed the Tribunal's order, ruling in favor of the appellant in a tax matter concerning the addition of a stock difference in books and bank statements for a hypothecation facility. The Court held that the Tribunal erred in restoring the addition without proper verification, emphasizing the importance of consistent accounting methods and satisfactory explanations for discrepancies. As no physical verification was conducted, the Court found the issue covered by a previous decision and concluded in favor of the appellant against the revenue authorities. en-us Thu, 14 Jul 2016 00:00:00 +0530 Sat, 23 Jul 2016 20:25:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330367 The High Court allowed the appeal and quashed the Tribunal's order, ruling in favor of the appellant in a tax matter concerning the addition of a stock difference in books and bank statements for a hypothecation facility. The Court held that the Tribunal erred in restoring the addition without proper verification, emphasizing the importance of consistent accounting methods and satisfactory explanations for discrepancies. As no physical verification was conducted, the Court found the issue covered by a previous decision and concluded in favor of the appellant against the revenue authorities. Case-Laws Income Tax Thu, 14 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330367