https://www.taxtmi.com/caselaws?id=18037 The court ruled in favor of the assessee against the Revenue, answering both questions in the negative. The Tribunal's decision to add Rs. 1,24,600 to the assessee's income was deemed unjustified as the assessee had disclosed sufficient stock to cover the deficiency. The reliance on the bank manager's version regarding the trust receipt was found erroneous, as it did not align with the documented terms. The burden of proof placed on the assessee and the consideration of evidence were deemed flawed, leading to an unsustainable conclusion. The Tribunal's reliance on irrelevant material and baseless inferences resulted in a decision unsupported by material evidence. en-us Thu, 28 Nov 1996 00:00:00 +0530 Sat, 26 Sep 2009 13:16:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18037 The court ruled in favor of the assessee against the Revenue, answering both questions in the negative. The Tribunal's decision to add Rs. 1,24,600 to the assessee's income was deemed unjustified as the assessee had disclosed sufficient stock to cover the deficiency. The reliance on the bank manager's version regarding the trust receipt was found erroneous, as it did not align with the documented terms. The burden of proof placed on the assessee and the consideration of evidence were deemed flawed, leading to an unsustainable conclusion. The Tribunal's reliance on irrelevant material and baseless inferences resulted in a decision unsupported by material evidence. Case-Laws Income Tax Thu, 28 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18037