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2014 (4) TMI 1155 - AT - Income TaxAddition on account of under valuation of stock by adopting FIFO method - clinching evidences regarding unaccounted purchases were found during the course of search action - Held that:- Respectfully following the decision of the Coordinate Bench of the Tribunal in the case of the sister concern under identical circumstances and in absence of any contrary material brought to our notice we find no infirmity in the order of Ld.CIT(A) deleting the addition to held that there was no reason to reject the method of valuation of stock and the addition made was thus not justified. Also undisclosed income has to be worked out on the basis of seized papers and since in the present case no such incriminating evidence was found regarding method of valuation of stock as the A.O. tried to adopt, the Learned CIT(A) was justified in deleting the addition - Decided against revenue
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