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2013 (12) TMI 658 - AT - Income TaxMistake apparent from record – Valuation of stock on the date of survey - Held that:- The value of stock as physically found at the time of survey was short by Rs. 14,21,168/- than the value of stock recorded in the books - Some sales have been made outside the books due to which the stock is found lower in value - The action of the AO in estimating the sales outside the books at Rs. 18.00 lakhs, does not seem to be arbitrary or unreasonable on the facts of the case – Decided against assessee.
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