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2012 (10) TMI 56 - AT - Income TaxSurvey - addition u/s 69 on account of undisclosed investment in stock – difference between quantity of stock as per stock register maintained on the Computer against quantity of stock mentioned in stock Register submitted to the Excise department – Held that:- It is observed that Assessing Officer has not rejected books of account of the assessee. Obviously the opening stock as on 1-4-2008 would be the closing stock as on 31-3-2008, which a per stock register is 25,555 kg. and accepted by the department for A.Y. 2008-09. There is no purchase of supari as on 1-4-2008, as the first purchase bill of supari is through bill no. 51 dated 2-4-08 from Nidhi Sales, which is verifiable from the purchase a/c submitted to the AO during assessment proceedings. There being no corroborative evidence in support of the entry found in the loose seized document, addition made u/s 69 is directed to be deleted – Decided in favor of assessee.
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