https://www.taxtmi.com/caselaws?id=381311 The Tribunal allowed the appeal in part, finding the addition of Rs. 2,42,69,000/- lacked merit as it was solely based on a statement without corroborative evidence. The actual processing cost of Rs. 211 was deemed justified, and the retraction of the statement by the Director was considered valid. The Tribunal also noted the addition was revenue-neutral. Consequently, a minor addition of Rs. 2,32,175/- based on Gross Profit earned on the alleged stock shortage was upheld, directing the AO accordingly. en-us Thu, 11 Apr 2019 00:00:00 +0530 Fri, 07 Jun 2019 10:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381311 The Tribunal allowed the appeal in part, finding the addition of Rs. 2,42,69,000/- lacked merit as it was solely based on a statement without corroborative evidence. The actual processing cost of Rs. 211 was deemed justified, and the retraction of the statement by the Director was considered valid. The Tribunal also noted the addition was revenue-neutral. Consequently, a minor addition of Rs. 2,32,175/- based on Gross Profit earned on the alleged stock shortage was upheld, directing the AO accordingly. Case-Laws Income Tax Thu, 11 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381311