https://www.taxtmi.com/caselaws?id=313032 ITAT Ahmedabad dismissed assessee's appeal regarding addition of unaccounted stock/income. During survey u/s 133A, assessee admitted excess unaccounted stock but failed to provide supporting evidence for stock valuation practices. Despite offering Rs.66,88,110/-, assessee excluded Rs.13,57,865/- difference from return. AO found higher gross profit during survey period compared to post-survey, indicating deliberate maintenance of unaccounted stock. CIT(A)'s confirmation of addition was upheld as assessee could not provide proper bifurcation of gold/silver ornament sales quantities for relevant periods. en-us Fri, 06 May 2022 00:00:00 +0530 Wed, 20 Mar 2024 13:57:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313032 ITAT Ahmedabad dismissed assessee's appeal regarding addition of unaccounted stock/income. During survey u/s 133A, assessee admitted excess unaccounted stock but failed to provide supporting evidence for stock valuation practices. Despite offering Rs.66,88,110/-, assessee excluded Rs.13,57,865/- difference from return. AO found higher gross profit during survey period compared to post-survey, indicating deliberate maintenance of unaccounted stock. CIT(A)'s confirmation of addition was upheld as assessee could not provide proper bifurcation of gold/silver ornament sales quantities for relevant periods. Case-Laws Income Tax Fri, 06 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313032