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2013 (10) TMI 157 - GUJARAT HIGH COURTAdditions made u/s 69B of the Income Tax Act - excess stock found during survey - assessee contended that as per the books during the course of survey was without the opening stock. Since the computer programme had some problem at the time of survey, it had given wrong figure – Held that:- Said letter does not throw any light other than suggesting that due to computer error, the opening stock was not included in the stock statement - Assessee was maintaining accounts not only in the computer but also manually. Nowhere in such manually maintained accounts also such discrepancy was brought on record - In presence of the assessee, the survey party had carried out physical stock taking. Valuation thereof and method of computation of valuation has never been in dispute either before the Revenue authorities or before this court - Even after taking into consideration such opening stock, admittedly, there was discrepancy in the physical stock found at the time of survey, even as per the assessee, to the tune of Rs. 11 lakhs – Decided against the Assessee.
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