https://www.taxtmi.com/caselaws?id=449833 ITAT Delhi ruled in favor of the assessee regarding excess stock found during survey operations. The tribunal held that when an assessee provides plausible explanations for stock differences that are verified during inquiry, such explanations cannot be arbitrarily rejected. The assessee produced complete books of accounts with no defects identified by AO or CIT(A), and successfully reconciled physical stock differences with supporting evidence. The tribunal directed deletion of additions made under section 69 read with section 115BBE, emphasizing that mere stock differences during survey do not automatically warrant additions when properly reconciled with adequate documentation. en-us Wed, 07 Feb 2024 00:00:00 +0530 Tue, 20 Feb 2024 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449833 ITAT Delhi ruled in favor of the assessee regarding excess stock found during survey operations. The tribunal held that when an assessee provides plausible explanations for stock differences that are verified during inquiry, such explanations cannot be arbitrarily rejected. The assessee produced complete books of accounts with no defects identified by AO or CIT(A), and successfully reconciled physical stock differences with supporting evidence. The tribunal directed deletion of additions made under section 69 read with section 115BBE, emphasizing that mere stock differences during survey do not automatically warrant additions when properly reconciled with adequate documentation. Case-Laws Income Tax Wed, 07 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449833