https://www.taxtmi.com/caselaws?id=186128 The High Court upheld the decision of the Tribunal in an appeal under section 260A of the Income-tax Act, 1961. The case involved the addition of excess stock of cotton discovered during an inspection. The Assessing Officer argued for the addition to income due to the unrecorded stock, but the assessee disputed this, citing payment of a market fee. The CIT(A) and Tribunal sided with the assessee, noting proper book entries and no adverse findings. The High Court affirmed the Tribunal's decision, dismissing the appeal as reasonable and not perverse. en-us Mon, 03 Nov 2008 00:00:00 +0530 Wed, 07 Sep 2016 18:26:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186128 The High Court upheld the decision of the Tribunal in an appeal under section 260A of the Income-tax Act, 1961. The case involved the addition of excess stock of cotton discovered during an inspection. The Assessing Officer argued for the addition to income due to the unrecorded stock, but the assessee disputed this, citing payment of a market fee. The CIT(A) and Tribunal sided with the assessee, noting proper book entries and no adverse findings. The High Court affirmed the Tribunal's decision, dismissing the appeal as reasonable and not perverse. Case-Laws Income Tax Mon, 03 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186128