https://www.taxtmi.com/caselaws?id=772839 AT examined the legitimacy of adding Rs. 12,10,038/- to the assessee's income based on discrepancies between stock figures in audited books and hypothecation statement. The AT ruled in favor of the assessee, holding that inflated stock figures submitted to secure bank credit cannot be treated as unexplained investment under section 69 of Income Tax Act. The addition was deleted, emphasizing that audited accounts take precedence over hypothecation statements prepared for banking purposes. en-us Thu, 24 Apr 2025 00:00:00 +0530 Sat, 14 Jun 2025 06:47:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772839 AT examined the legitimacy of adding Rs. 12,10,038/- to the assessee's income based on discrepancies between stock figures in audited books and hypothecation statement. The AT ruled in favor of the assessee, holding that inflated stock figures submitted to secure bank credit cannot be treated as unexplained investment under section 69 of Income Tax Act. The addition was deleted, emphasizing that audited accounts take precedence over hypothecation statements prepared for banking purposes. Case-Laws Income Tax Thu, 24 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772839