https://www.taxtmi.com/caselaws?id=401104 The Appellate Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in a case involving the disallowance of a difference in opening stock outside the books of accounts and the admission of additional evidence under Rule 46A. The Tribunal dismissed the Revenue's appeal, affirming that the transfer of inventory was appropriately disclosed in the financial statements and that the additional evidence provided by the assessee was crucial and clarified the inventory transfer. The judgment emphasized the significance of proper disclosure in financial statements and the admissibility of additional evidence to address assessment discrepancies. en-us Fri, 23 Oct 2020 00:00:00 +0530 Fri, 27 Nov 2020 10:39:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401104 The Appellate Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) in a case involving the disallowance of a difference in opening stock outside the books of accounts and the admission of additional evidence under Rule 46A. The Tribunal dismissed the Revenue's appeal, affirming that the transfer of inventory was appropriately disclosed in the financial statements and that the additional evidence provided by the assessee was crucial and clarified the inventory transfer. The judgment emphasized the significance of proper disclosure in financial statements and the admissibility of additional evidence to address assessment discrepancies. Case-Laws Income Tax Fri, 23 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401104