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2021 (7) TMI 151 - ITAT INDOREAddition on account of under valuation of closing stock of tea bags - CIT-A deleted the addition - assessee is a wholesale dealers of tea bags whose assessment under Section 143(3) was completed - HELD THAT:- In view of case particularly the damaged stock due to heavy rainfall sold on 02.11.2016 and further that the claim of such damaged stock and subsequent settlement which took place between the assessee and the New India Insurance Company Ltd. in A.Y. 2006-07 supported by corroborative evidence keeps no option for disallowance and addition thereof as made by the Ld. AO is, therefore, not sustainable. Taking into consideration this particular aspect of the matter we do not find any ambiguity in the order passed by the Ld. CIT(A) for deleting the addition so as to warrant interference. Hence, the Revenue's appeal is dismissed.
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