Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (5) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (5) TMI 555 - AT - Income TaxUndisclosed income out of suppression of closing stock - CIT(A) deleted the addition - Held that:- Addition was deleted by CIT(A) on this basis that this amount of closing stock as on 31.03.1999 cannot be added separately because this is appearing as opening stock as on 01.04.1999 and it has been considered for working out amount of sales from 1.4.99 to the date of search and addition on this aspect of Rs.27.58 lacs was duly confirmed by him and, therefore, no separate addition on account of this difference in value of stock is called for - no interference is called for in the order of CIT(A) - Against revenue. Unexplained expenses claimed - CIT(A) deleted the addition - Held that:- Addition was deleted by CIT(A) on this basis that the assessee deserves the benefit of the telescoping against addition confirmed by CIT(A) of Rs.30.90 lacs. Under these facts no interference is called for in the order of CIT(A) on this issue also. Accordingly, ground No.2 of the revenue is also rejected. Against revenue.
|