https://www.taxtmi.com/caselaws?id=352144 The Tribunal dismissed the revenue's appeal and allowed the assessee's appeal for the Assessment Year 2005-06. The Tribunal rejected the re-computation of closing stock valuation by the assessing authority and deleted the addition of Rs. 62.95 lakh. Additionally, the Tribunal upheld the explanation for cash credits under Section 68, finding them reconciled against sale considerations with established identities of the persons involved. The Tribunal's decisions were supported by evidence and upheld, leading to the dismissal of the appeal in favor of the assessee. en-us Tue, 05 Dec 2017 00:00:00 +0530 Thu, 22 Mar 2018 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352144 The Tribunal dismissed the revenue's appeal and allowed the assessee's appeal for the Assessment Year 2005-06. The Tribunal rejected the re-computation of closing stock valuation by the assessing authority and deleted the addition of Rs. 62.95 lakh. Additionally, the Tribunal upheld the explanation for cash credits under Section 68, finding them reconciled against sale considerations with established identities of the persons involved. The Tribunal's decisions were supported by evidence and upheld, leading to the dismissal of the appeal in favor of the assessee. Case-Laws Income Tax Tue, 05 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352144