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2013 (12) TMI 1167 - HC - Income TaxAddition on account of unverified stock - Held that:- The CIT has observed the report of auditor - The Auditor has pointed out that the stores have not been physically verified in the constituent units and reconciled with the book value exhibited in the balance-sheet - There has been no adverse comments as regards the purchases from the consumption disclosed - The addition was deleted by CIT(A) as well as Tribunal. Addition on account of value of scrap recorded in books - Held that:- The assessee has not maintained any details of scrap and its value - The availability of the scrap was not denied - The assessee has regularly been following the particular method of accounting, the addition made on the basis of the estimates and conjectures cannot be justified - Both the additions were made on estimate basis - Estimation is a question of fact - No question of law is emerging from both the proposed questions by the Department - Decided against Revenue.
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