https://www.taxtmi.com/caselaws?id=420668 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,46,66,340/- made under Section 69 as unexplained investments, citing the AO's error in stock valuation method. The reassessment of excess stock disclosed during the survey in the assessment year 2015-16 was deemed incorrect as it had already been considered in the previous assessment year. Additionally, the addition of Rs. 61,27,745/- towards business profit was found unjustified due to lack of evidence. The Revenue's appeal was dismissed. en-us Thu, 31 Mar 2022 00:00:00 +0530 Thu, 07 Apr 2022 10:01:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420668 The Tribunal upheld the CIT(A)'s decision to delete the addition of Rs. 2,46,66,340/- made under Section 69 as unexplained investments, citing the AO's error in stock valuation method. The reassessment of excess stock disclosed during the survey in the assessment year 2015-16 was deemed incorrect as it had already been considered in the previous assessment year. Additionally, the addition of Rs. 61,27,745/- towards business profit was found unjustified due to lack of evidence. The Revenue's appeal was dismissed. Case-Laws Income Tax Thu, 31 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420668