Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (1) TMI 478 - GUJARAT HIGH COURTDifferential stock statement as recorded in the books of accounts as against the same submitted before the bank - Appellate Tribunal deleted the addition made by the Assessing Officer - Held that:- The issue involved in these appeals is already concluded by a decision of this Court in the case of Commissioner of Income-tax, Ahmedabad-III v. Riddhi Steel and Tubes (P) Ltd., [2013 (10) TMI 291 - GUJARAT HIGH COURT] wherein 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. In favour of assessee.
|