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2022 (2) TMI 1037 - HC - Income TaxAddition of investment in unexplained stock - burden of proving excess stock - Whether Tribunal is right in holding that the burden of proving excess stock is on the revenue when the assessee himself has admitted the availability of excess stock and thereby deleting the addition ? - HELD THAT:- It is the case of the Assessee that the closing stock declared by the Assessee and accepted by the Commercial Tax Department has been rightly accepted by the Income Tax Department (the Assessing Officer) and therefore, the confirmation of the same by the Income Tax Appellate Tribunal has to be upheld. Assessee has brought to the notice of this Court the decision rendered by this Court in SK. USMAN ALI [2015 (3) TMI 891 - MADRAS HIGH COURT] relating to the same assessee (for the Assessment year 2001-2002), whereunder, relying upon the decision reported in Sakuntala Devi, Khetan [2013 (3) TMI 270 - MADRAS HIGH COURT] it has been held that the Assessing Officer has to adopt the figures and turn over finally assessed by the Sales Tax Authorities. This decision is binding upon the Revenue. Therefore, the contention of the Revenue that it has powers to tinker with the stock estimated by the Sales Tax Authorities cannot be accepted. Therefore, the appeal filed by the Revenue fails
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