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2013 (10) TMI 291 - HC - Income TaxAddition on the basis of inflated stock statement submitted to bank - Addition under Section 69B - Held that:- Only on account of inflated statements furnished to the banking authorities for the purpose of availing of larger credit facilities, no addition can be made if there appears to be a difference between the stock shown in the books of account and the statement furnished to the banking authorities - If, for the purpose of fulfilling the margin requirements of the bank purely on inflated estimate basis, when the stock statement had reflected inflated value of the stock, both for the purpose of value as well as quantity, addition can not be made – Decided against the Revenue.
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