https://www.taxtmi.com/caselaws?id=456463 ITAT Delhi held that no addition was warranted for alleged stock differences in sugar and molasses. The sugar variance of 0.98% and 0.76% at respective units was minimal and attributable to natural production fluctuations, with no incriminating evidence found during search. For molasses, the excess was explained by chemical volatility due to temperature changes, confirmed by the Chief Engineer. Regarding unaccounted cash, the matter was remanded to AO for limited examination of one transaction involving imprest amount, as vouchers from the day before search were not updated in books, creating apparent discrepancy. en-us Mon, 27 Jun 2022 00:00:00 +0530 Sat, 27 Jul 2024 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456463 ITAT Delhi held that no addition was warranted for alleged stock differences in sugar and molasses. The sugar variance of 0.98% and 0.76% at respective units was minimal and attributable to natural production fluctuations, with no incriminating evidence found during search. For molasses, the excess was explained by chemical volatility due to temperature changes, confirmed by the Chief Engineer. Regarding unaccounted cash, the matter was remanded to AO for limited examination of one transaction involving imprest amount, as vouchers from the day before search were not updated in books, creating apparent discrepancy. Case-Laws Income Tax Mon, 27 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456463