Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2017 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (7) TMI 1200 - RAJASTHAN HIGH COURTUnexplained investment in stock found during search - tribunal deleted addition said valuation of stock was made on the basis of rates provided by the assessee himself and the valuation was even accepted by the assessee in his deposition u/s.132(4) - Held that:- Taking into account the concurrent finding of both the Courts below, the appeal deserves to be dismissed. Apart from that the judgments cited by the counsel for the appellant will not apply in the facts of the present case. Tribunal was justified in deleting the addition of ₹ 1,72,77,262/- made by the Assessing Officer on account of unexplained investment in stock found during search - Decided in favour of assessee
|