https://www.taxtmi.com/caselaws?id=397529 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 66,92,164 as unexplained investment in stock and spares. The Tribunal found that the stock and spares value given to the bank was correctly reflected in the books under 'Plant and Machinery,' and there was no undisclosed investment outside the accounts. Therefore, the addition under section 69A of the Income Tax Act was deemed inapplicable, leading to the deletion of the amount in question. en-us Wed, 19 Aug 2020 00:00:00 +0530 Fri, 21 Aug 2020 10:12:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397529 The Tribunal allowed the appeal, directing the Assessing Officer to delete the addition of Rs. 66,92,164 as unexplained investment in stock and spares. The Tribunal found that the stock and spares value given to the bank was correctly reflected in the books under 'Plant and Machinery,' and there was no undisclosed investment outside the accounts. Therefore, the addition under section 69A of the Income Tax Act was deemed inapplicable, leading to the deletion of the amount in question. Case-Laws Income Tax Wed, 19 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397529