https://www.taxtmi.com/caselaws?id=345616 The tribunal upheld the CIT (A)'s decision, dismissing the revenue's appeal regarding the deletion of an addition of Rs. 11,39,05,000/- on account of excess stock. It was determined that the negligible stock difference did not warrant such an addition, emphasizing that the stock statement provided to the bank was for credit purposes and not indicative of actual stock. The tribunal found no discrepancies in production records or trading results, concluding that the revenue's reliance on previous high court decisions was not applicable to this case involving hypothecated goods. en-us Tue, 07 Feb 2017 00:00:00 +0530 Sat, 22 Jul 2017 08:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345616 The tribunal upheld the CIT (A)'s decision, dismissing the revenue's appeal regarding the deletion of an addition of Rs. 11,39,05,000/- on account of excess stock. It was determined that the negligible stock difference did not warrant such an addition, emphasizing that the stock statement provided to the bank was for credit purposes and not indicative of actual stock. The tribunal found no discrepancies in production records or trading results, concluding that the revenue's reliance on previous high court decisions was not applicable to this case involving hypothecated goods. Case-Laws Income Tax Tue, 07 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345616