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2015 (3) TMI 230 - AT - Income TaxUndisclosed stock - Admission of alternate plea regarding making an addition after telescoping and taking the peak value of the negative stock - Held that:- No fault can be found from ld. CIT(A) in accepting the assessee's alternate plea of peak valuation of negative stock. The ld. Counsel for the assessee could not improve his case from the level of the ld. CIT(A) i.e. in respect of two instances. The stock discrepancy is not satisfactorily explained. In these circumstances, we uphold the order of the ld. CIT(A). - Decided against Revenue.
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