2018 (10) TMI 1745

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....pellate Tribunal dated 23.03.2018 raising following question for our consideration: "Whether the Appellate Tribunal has erred in law and on facts in deleting the addition of Rs. 1,59,22,356/- due to discrepancy found in stock statements, and by not considering the evidences in form of stock statements which were submitted by the assessee to his banker, Punjab National Bank?" 2. On 08.10.2018, w....

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.... and the stock statement filed with the Bank. It was noted that the stock statements filed with the Bank pertain to the months of April to August, whereas, the survey took place in the month of September. It was also noticed that the tendency to show higher value in the bank statements to enjoy higher cash credit limit. The entire issue is thus based on facts duly appreciated by the CIT [A] and th....