https://www.taxtmi.com/caselaws?id=60928 The Tribunal upheld the decision of the DCIT(A) and dismissed the revenue's appeal regarding the addition of Rs. 56,700 on account of discrepancies in the closing stock for the assessment year 1988-89. The Tribunal found that the discrepancies were reasonably explained by the assessee, attributing them to estimated statements for the bank. It emphasized that the onus was on the assessee to prove the correctness of the books of account over the statement to the bank, and in this case, the revenue failed to demonstrate any unexplained investment by the assessee. en-us Thu, 20 Jun 1996 00:00:00 +0530 Sat, 08 Jan 2011 16:34:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60928 The Tribunal upheld the decision of the DCIT(A) and dismissed the revenue's appeal regarding the addition of Rs. 56,700 on account of discrepancies in the closing stock for the assessment year 1988-89. The Tribunal found that the discrepancies were reasonably explained by the assessee, attributing them to estimated statements for the bank. It emphasized that the onus was on the assessee to prove the correctness of the books of account over the statement to the bank, and in this case, the revenue failed to demonstrate any unexplained investment by the assessee. Case-Laws Income Tax Thu, 20 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60928