https://www.taxtmi.com/caselaws?id=409309 The Tribunal dismissed the Revenue's appeal, upholding the decision of the Ld. CIT(A) to delete the addition of under valuation of closing stock of tea bags. The Tribunal found that the supporting documents provided by the assessee, including fire insurance claim forms and ledger accounts, justified the deletion based on the specific circumstances of the case. The sale of damaged stock in a subsequent year and settlement with the insurance company in the previous year further supported the deletion of the addition. en-us Mon, 28 Jun 2021 00:00:00 +0530 Sat, 03 Jul 2021 12:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409309 The Tribunal dismissed the Revenue's appeal, upholding the decision of the Ld. CIT(A) to delete the addition of under valuation of closing stock of tea bags. The Tribunal found that the supporting documents provided by the assessee, including fire insurance claim forms and ledger accounts, justified the deletion based on the specific circumstances of the case. The sale of damaged stock in a subsequent year and settlement with the insurance company in the previous year further supported the deletion of the addition. Case-Laws Income Tax Mon, 28 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409309