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2016 (9) TMI 1035 - HC - Income TaxDifferential value of stock - value as submitted before the banking authorities for procurement of credit facility visavis stock disclosed in the books of accounts - Held that:- Having considered the decision in case of Nangalia Impex (2014 (11) TMI 1092 - GUJARAT HIGH COURT), this Court is of the opinion that the stock register which was maintained by the assessee; entries of which have been reflected in the Books of Account and the said aspect has been accepted by the authorities below and therefore, the view taken by the tribunal is just and proper in deleting the addition made on account of differential value of stock as submitted before the banking authorities for procurement of credit facility visavis stock disclosed in the books of accounts. - Decided against revenue
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