https://www.taxtmi.com/caselaws?id=32206 The High Court dismissed the appeals, ruling against the Revenue and in favor of the assessee, concluding that the additions made by the Assessing Officer were not justified. The Court emphasized that the discrepancy in stock valuation alone does not warrant treating it as income from undisclosed sources, especially when there was no evidence of a discrepancy in the quantity of stock hypothecated to the bank versus the quantity recorded in the books of accounts. en-us Tue, 18 Mar 2008 00:00:00 +0530 Fri, 16 Sep 2011 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32206 The High Court dismissed the appeals, ruling against the Revenue and in favor of the assessee, concluding that the additions made by the Assessing Officer were not justified. The Court emphasized that the discrepancy in stock valuation alone does not warrant treating it as income from undisclosed sources, especially when there was no evidence of a discrepancy in the quantity of stock hypothecated to the bank versus the quantity recorded in the books of accounts. Case-Laws Income Tax Tue, 18 Mar 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32206