https://www.taxtmi.com/caselaws?id=386496 The Tribunal allowed the appeal of the assessee, setting aside the CIT(A)'s decision and deleting the addition made by the AO. The Tribunal found discrepancies in the valuation of closing stock and sundry debtors were due to overvaluation for bank purposes. Merely declaring excess stock to the bank was not sufficient reason for income additions. The stay application was dismissed as withdrawn, and the main appeal was adjudicated in favor of the assessee. en-us Wed, 25 Sep 2019 00:00:00 +0530 Sun, 29 Sep 2019 06:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386496 The Tribunal allowed the appeal of the assessee, setting aside the CIT(A)'s decision and deleting the addition made by the AO. The Tribunal found discrepancies in the valuation of closing stock and sundry debtors were due to overvaluation for bank purposes. Merely declaring excess stock to the bank was not sufficient reason for income additions. The stay application was dismissed as withdrawn, and the main appeal was adjudicated in favor of the assessee. Case-Laws Income Tax Wed, 25 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386496