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2016 (5) TMI 1579 - ITAT CHANDIGARHRejection of books of accounts u/s 145 - Addition of difference in valuation of closing stock of 4548.679 gms of gold jewellery and another addition being the value of diamond jewellery except the value of stone studded therein - HELD THAT:- As relying on case of Jagdish Chand [2003 (6) TMI 441 - ITAT CHANDIGARH] considering consistency of method of valuations and judicial decision the rejection of Books of account and the valuation of jewellery by the A.O. is held as not correct and the addition made by the AO is unsustainable in law and on facts - thus stating that the facts of the present case are identical to the facts of that case CIT (Appeals) was right in deleting the addition. - Decided in favour of assessee.
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