TMI Blog2002 (9) TMI 386X X X X Extracts X X X X X X X X Extracts X X X X ..... he following grounds : (i)On the facts and circumstances of the case the Ld. CIT(A) was not justified in deleting the addition of Rs. 1,00,000 made by the Assessing Officer in closing stock being the difference of figures shown in Trading Account and Balance sheet. (ii)On the facts and circumstances of the case the Ld. CIT(A) was not justified in deleting the addition of Rs. 79,160 made by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... So also Rs. 79,160 being difference between statement submitted to the bank and stock shown in books of account, the Ld. Assessing Officer passed the order dated 20th March 1997 after discussion with the counsel and partner. 3. In the first appeal the ld. CIT(A) concluded that the addition of Rs. 1,00,000 made by Ld. Assessing Officer deserved to be deleted as there is no concealment at any sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Officer is fully justifiable and the Assessing Officer s order deserved to be restored. 5. On the other hand the Ld. counsel of the assessee argued before us that there is no difference in trading account and balance sheet and closing stock. The addition of Rs. 1,00,000 made by Assessing Officer was fully unwarranted when the accounts were examined during the assessment proceeding and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (A) on this particular ground. The ground is dismissed in favour of the assessee. 7. As regards ground No. 2, the Hon ble Rajasthan High Court in the case of CIT v. Relaxo Foot Wear 123 Taxman 322 (Raj. HC) opined that when there is difference between the statement submitted to the bank and actual statement of accounts no addition is justified because the very purpose of the statement given to t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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