https://www.taxtmi.com/highlights?id=32602 Addition u/s 28(iv) - huge increase in the capital - revaluation of the jewellery - This is merely a book entry passed by the assessee - the auditor who has admitted to have made mistakes in describing the gold pledged as capital of the assessee, whereas, in the eyes of law it is a contingent liability and since the error has been corrected, no additions - AT en-us Thu, 29 Dec 2016 13:07:35 +0530 Thu, 29 Dec 2016 13:07:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=32602 Addition u/s 28(iv) - huge increase in the capital - revaluation of the jewellery - This is merely a book entry passed by the assessee - the auditor who has admitted to have made mistakes in describing the gold pledged as capital of the assessee, whereas, in the eyes of law it is a contingent liability and since the error has been corrected, no additions - AT Highlights Income Tax Thu, 29 Dec 2016 13:07:35 +0530 https://www.taxtmi.com/highlights?id=32602