2012 (10) TMI 1146

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..... The assessee has filed this appeal challenging judgement of the Income Tax Appellate Tribunal dated 29.7.2011. Following questions have been presented for our consideration : "A. Whether on the facts and in the circumstances of the case, Income-tax Appellate Tribunal, was right in law in confirming the addition of Rs. 27.70 lacs on account of stock difference and Rs. 1.10 lacs as une....

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....ll as Commissioner(Appeals) concurrently held that the assessee had not been able to explain certain stock found at the time of survey. During the survey statement of the assessee was recorded. In unclear terms he stated that he was not able to explain such stock. In the concluding portion of the statement, he agreed the same as unaccounted stock and agreed to pay the necessary tax liability. Duri....