https://www.taxtmi.com/caselaws?id=766482 The ITAT Delhi allowed the assessee's appeal, deleting additions made for unexplained stock differences. The tribunal held that no addition could be made for differences between physical stock and bank-submitted statements, following Gujarat HC precedent in Avi Polymers Limited. The stock valuation difference was under 10% and attributed to estimation during survey without reference to bills/vouchers. The tribunal also deleted 10% disallowance of expenses for alleged personal use, finding no evidence of personal usage despite survey proceedings, and criticized the lower authorities for making additions without merit. en-us Fri, 21 Feb 2025 00:00:00 +0530 Wed, 26 Feb 2025 08:17:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766482 The ITAT Delhi allowed the assessee's appeal, deleting additions made for unexplained stock differences. The tribunal held that no addition could be made for differences between physical stock and bank-submitted statements, following Gujarat HC precedent in Avi Polymers Limited. The stock valuation difference was under 10% and attributed to estimation during survey without reference to bills/vouchers. The tribunal also deleted 10% disallowance of expenses for alleged personal use, finding no evidence of personal usage despite survey proceedings, and criticized the lower authorities for making additions without merit. Case-Laws Income Tax Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766482