https://www.taxtmi.com/caselaws?id=468794 A higher stock statement furnished to a bank for credit facilities does not, by itself, justify an addition where the difference from the books of account is otherwise satisfactorily explained. Applying that settled principle, the Orissa High Court noted that enhancement of turnover based only on the stock position shown to the bank, after rejection of the accounts, lacked legal support. The addition could therefore not be sustained on that material alone, and the issue was answered in favour of the petitioner and against the Department. en-us Wed, 20 Mar 2019 00:00:00 +0530 Thu, 21 May 2026 14:57:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468794 A higher stock statement furnished to a bank for credit facilities does not, by itself, justify an addition where the difference from the books of account is otherwise satisfactorily explained. Applying that settled principle, the Orissa High Court noted that enhancement of turnover based only on the stock position shown to the bank, after rejection of the accounts, lacked legal support. The addition could therefore not be sustained on that material alone, and the issue was answered in favour of the petitioner and against the Department. Case-Laws VAT / Sales Tax Wed, 20 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468794