https://www.taxtmi.com/caselaws?id=463714 ITAT held for the assessee and against the revenue. The Tribunal confirmed CIT(A)'s allowance of set-off for undisclosed stock by treating an earlier addition in AY 2011-12 (accepted by the assessee) and IDS disclosures as available for offset. It found the books were not rejected, no defect shown by AO to justify stock addition, and accepted the reconciled closing stock. Additions for alleged excess cash discovered on survey were deleted as CIT(A) properly relied on audited accounts and the assessee's explanations. Decision: additions deleted; revenue's appeals dismissed. en-us Wed, 04 Jan 2023 00:00:00 +0530 Fri, 12 Sep 2025 19:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463714 ITAT held for the assessee and against the revenue. The Tribunal confirmed CIT(A)'s allowance of set-off for undisclosed stock by treating an earlier addition in AY 2011-12 (accepted by the assessee) and IDS disclosures as available for offset. It found the books were not rejected, no defect shown by AO to justify stock addition, and accepted the reconciled closing stock. Additions for alleged excess cash discovered on survey were deleted as CIT(A) properly relied on audited accounts and the assessee's explanations. Decision: additions deleted; revenue's appeals dismissed. Case-Laws Income Tax Wed, 04 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463714