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2016 (3) TMI 324 - HC - Income TaxReopening of assessment - difference between the closing stock as shown in the books of accounts produced and in the account as shown in the document recovered from the CPU - whether figures obtained from the hard disk of the CPU must be given credence over the figures in the books of accounts produced before the AO and in particular the stock register maintained by the Assessee - Held that:- ITAT has given cogent reasons as to why the case of the Revenue cannot be accepted. Inter alia, it is pointed out that no evidence was found which could substantiate the Revenue's contention that there were either purchases or sales outside the books of accounts. There was no evidence that the Assessee maintained parallel books of accounts. The contention of the Revenue that the difference in the figures of closing stock as on 31st March 2011 and the opening stock as on 1st April 2011 were due to unaccounted sales was rejected as being absurd. The ITAT observed that “just one unrealistic and absurd figure of net profit is taken out from the print out of the rough document from the CPU/hard disk and adopted for assessment of total income. Such an approach cannot be approved - Decided against revenue
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