https://www.taxtmi.com/caselaws?id=361078 The Income Tax Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to reduce the net profit of the assessee by Rs. 97,11,023. The Tribunal found deficiencies in the computerized records impounded during the survey, supporting the assessee's claim of corrupted data. It determined the accurate closing stock value to be Rs. 58,32,590, leading to a justified addition of Rs. 4,06,460. The Tribunal dismissed the revenue's appeal, confirming the reduction of Rs. 97,11,023 and the addition of Rs. 4,06,460 towards the closing stock difference. en-us Wed, 23 May 2018 00:00:00 +0530 Tue, 29 May 2018 09:43:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361078 The Income Tax Appellate Tribunal upheld the Commissioner of Income Tax (Appeals)'s decision to reduce the net profit of the assessee by Rs. 97,11,023. The Tribunal found deficiencies in the computerized records impounded during the survey, supporting the assessee's claim of corrupted data. It determined the accurate closing stock value to be Rs. 58,32,590, leading to a justified addition of Rs. 4,06,460. The Tribunal dismissed the revenue's appeal, confirming the reduction of Rs. 97,11,023 and the addition of Rs. 4,06,460 towards the closing stock difference. Case-Laws Income Tax Wed, 23 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361078