https://www.taxtmi.com/caselaws?id=274174 The Tribunal upheld the deletion of additions made by the AO concerning excess stock and unexplained investment. It found confessional statements obtained during the search operation to be unreliable, emphasizing the lack of independent verification. The Tribunal accepted the assessee's reconciled stock details and rejected the additions based on unreliable admissions. Additionally, it ruled that interest under sections 234A and 234B should be calculated from the date the seized documents were available to the assessee. The appeal was dismissed in favor of the assessee, with the Tribunal's decision prevailing against the Department. en-us Tue, 12 Sep 2017 00:00:00 +0530 Tue, 22 Feb 2022 17:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274174 The Tribunal upheld the deletion of additions made by the AO concerning excess stock and unexplained investment. It found confessional statements obtained during the search operation to be unreliable, emphasizing the lack of independent verification. The Tribunal accepted the assessee's reconciled stock details and rejected the additions based on unreliable admissions. Additionally, it ruled that interest under sections 234A and 234B should be calculated from the date the seized documents were available to the assessee. The appeal was dismissed in favor of the assessee, with the Tribunal's decision prevailing against the Department. Case-Laws Income Tax Tue, 12 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274174