https://www.taxtmi.com/caselaws?id=787958 A certified hypothecation statement specifying quantities and values may be treated as reliable evidence for tax assessment where it records true stock position and conforms with permanent books, and substantial unexplained discrepancies permit taxable additions; deliberately inflated declarations to obtain bank credit constitute commercial immorality and justify corrective additions. Where the tribunal's findings rest on that certified statement and comparison with books, absence of material demonstrating perversity or lack of evidence precludes interference, and appellate challenge to such additions will fail - impugned orders upheld. en-us Wed, 11 Mar 2026 00:00:00 +0530 Sat, 14 Mar 2026 08:36:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=787958 A certified hypothecation statement specifying quantities and values may be treated as reliable evidence for tax assessment where it records true stock position and conforms with permanent books, and substantial unexplained discrepancies permit taxable additions; deliberately inflated declarations to obtain bank credit constitute commercial immorality and justify corrective additions. Where the tribunal's findings rest on that certified statement and comparison with books, absence of material demonstrating perversity or lack of evidence precludes interference, and appellate challenge to such additions will fail - impugned orders upheld. Case-Laws Income Tax Wed, 11 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=787958