Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2015 (11) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (11) TMI 125 - HC - Income TaxAddition made in respect of undisclosed stock - ITAT deleted the addition - Held that:- Tribunal has recorded concurrent findings of fact to the effect that the revenue had failed to establish that there was in fact any difference in the quantity of stock and has thereafter merely applied the decision of the jurisdictional High Court in the case of CIT v. Veerdip Rollers (P.) Ltd. [ 2007 (10) TMI 376 - GUJARAT HIGH COURT] wherein in a similar set of facts it had been held that there was no justification for making any addition on the allegation of inflated stock shown to the bank, to the facts of the present case. Under the circumstances, the conclusion of the Tribunal being based upon concurrent findings of fact recorded by it after appreciation of the evidence on record, in the absence of any perversity being pointed out in the findings of fact recorded by it, it cannot be said that the impugned order gives rise to any question of law, much less, a substantial question of law, so as to warrant interference. - Decided against revenue.
|