Assessee must explain discrepancies between stock values in bank reports and their books, or face income additions.

Assessee must explain discrepancies between stock values in bank reports and their books, or face income additions. https://www.taxtmi.com/highlights?id=49410 Stock difference - when there is a difference in the value of stock shown in the statement given to the bank and the books of account of the assessee, the assessee is bound to explain the differences. In the absence of any explanation furnished by the assessee, additions confirmed. en-us Mon, 23 Sep 2019 07:21:58 +0530 Mon, 23 Sep 2019 07:21:58 +0530 TaxTMI RSS Generator Assessee must explain discrepancies between stock values in bank reports and their books, or face income additions. https://www.taxtmi.com/highlights?id=49410 Stock difference - when there is a difference in the value of stock shown in the statement given to the bank and the books of account of the assessee, the assessee is bound to explain the differences. In the absence of any explanation furnished by the assessee, additions confirmed. Highlights Income Tax Mon, 23 Sep 2019 07:21:58 +0530 https://www.taxtmi.com/highlights?id=49410