https://www.taxtmi.com/caselaws?id=380664 MADRAS HC upheld additions under provisions dealing with unexplained investments/stock (69B/69C), holding that erroneously mentioning a wrong section does not vitiate the assessment. Excess stock found during survey must be taxed as undisclosed income; no deduction for hypothetical purchases is allowable because corresponding verifiable invoices cannot be created post facto. Tribunal and lower authorities were justified in treating the excess stock as income, and the remand for verification did not advance the assessee's contention or raise a substantial question of law. en-us Tue, 26 Mar 2019 00:00:00 +0530 Fri, 19 Sep 2025 12:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380664 MADRAS HC upheld additions under provisions dealing with unexplained investments/stock (69B/69C), holding that erroneously mentioning a wrong section does not vitiate the assessment. Excess stock found during survey must be taxed as undisclosed income; no deduction for hypothetical purchases is allowable because corresponding verifiable invoices cannot be created post facto. Tribunal and lower authorities were justified in treating the excess stock as income, and the remand for verification did not advance the assessee's contention or raise a substantial question of law. Case-Laws Income Tax Tue, 26 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380664