https://www.taxtmi.com/caselaws?id=789559 A provisional stock statement furnished to a bank cannot, by itself, justify treating the difference from audited closing stock as undisclosed income where the books are not rejected, no defect is found in stock records or valuation, and the figures are only estimated in a business involving work-in-process and multiple sites. The addition is also unsustainable where any enhancement of closing stock would ordinarily flow into the next year's opening stock and the exercise is revenue neutral. The stock difference addition was therefore deleted in favour of the assessee. en-us Fri, 27 Feb 2026 00:00:00 +0530 Wed, 08 Apr 2026 17:46:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789559 A provisional stock statement furnished to a bank cannot, by itself, justify treating the difference from audited closing stock as undisclosed income where the books are not rejected, no defect is found in stock records or valuation, and the figures are only estimated in a business involving work-in-process and multiple sites. The addition is also unsustainable where any enhancement of closing stock would ordinarily flow into the next year's opening stock and the exercise is revenue neutral. The stock difference addition was therefore deleted in favour of the assessee. Case-Laws Income Tax Fri, 27 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789559