https://www.taxtmi.com/caselaws?id=799493 Closing stock damaged while factory premises were under bank possession may be valued at cost or net realisable value, whichever is lower, where that accords with the consistently disclosed accounting method. Internet-price revaluation does not justify an addition unless it disproves the reduced recoverable value; the closing-stock addition was deleted. Cash deposits during demonetisation recorded as cash sales in audited books, supported by sale bills, delivery challans, sales registers and stock registers, were not unexplained money absent contrary material. The deposits were explained by the non-performing bank account and takeover of the business and residential premises, so the addition under Section 69A was deleted. en-us Thu, 26 Feb 2026 00:00:00 +0530 Wed, 23 Sep 2026 08:48:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799493 Closing stock damaged while factory premises were under bank possession may be valued at cost or net realisable value, whichever is lower, where that accords with the consistently disclosed accounting method. Internet-price revaluation does not justify an addition unless it disproves the reduced recoverable value; the closing-stock addition was deleted. Cash deposits during demonetisation recorded as cash sales in audited books, supported by sale bills, delivery challans, sales registers and stock registers, were not unexplained money absent contrary material. The deposits were explained by the non-performing bank account and takeover of the business and residential premises, so the addition under Section 69A was deleted. Case-Laws Income Tax Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799493