https://www.taxtmi.com/caselaws?id=766100 ITAT Chennai upheld CIT(A)'s deletion of addition for excess stock in poultry business. Assessee showed stock difference of Rs. 1,01,77,956 due to software integration error but included this in return showing turnover of Rs. 22,82,96,716 with 16.46% net profit. Addition under section 69 was deleted as it was based solely on MD's statement under section 133A which lacks evidentiary value per SC precedent. Since books were audited without rejection by AO and assessee offered excess stock for taxation, no addition was warranted. en-us Wed, 05 Feb 2025 00:00:00 +0530 Tue, 18 Feb 2025 08:10:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766100 ITAT Chennai upheld CIT(A)'s deletion of addition for excess stock in poultry business. Assessee showed stock difference of Rs. 1,01,77,956 due to software integration error but included this in return showing turnover of Rs. 22,82,96,716 with 16.46% net profit. Addition under section 69 was deleted as it was based solely on MD's statement under section 133A which lacks evidentiary value per SC precedent. Since books were audited without rejection by AO and assessee offered excess stock for taxation, no addition was warranted. Case-Laws Income Tax Wed, 05 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766100