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2010 (1) TMI 814 - HC - Income TaxExcess stock, as returned to the bank, was corresponding to the sales not declared to the bank in the form of sundry debtors, the assessee has only availed extra credit facility, which did not relate to the discrepancy in stock - explanation of the assessee that in the bank statement, the assessee had shown less value of sales and reported more stock; excess stock shown to the bank was attributable to less sales shown to the bank and thus, source of excess stock shown to the bank was fully explained as available from the books - Held that:- explanation offered by the assessee is proper, and there was no excess stock available with the assessee, Appeal dismissed
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