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2016 (2) TMI 303 - DELHI HIGH COURT

2016 (2) TMI 303 - DELHI HIGH COURT - TMI - Addition on account of inventory written off - Held that:- As far as the present case is concerned, the CIT (A) having noted categorically that the complete details of inventory were furnished by the Assessee together with evidence of persons before whom the items were disposed of, and with the inventory clearly not being available for any verification, no purpose will be served by remanding the matter to the AO for that exercise. - Decided against rev .....

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tion is whether the ITAT was justified in deleting the addition of ₹ 2,07,89,275 made by the Assessing Officer ( AO ) on account of inventory written off. 3. The Assessee is engaged in the business of manufacture and sale of tooth brushes and deals in small electrical appliances. It is engaged in trading and export of blades, razors, kitchen machines and accessories. During the course of the assessment proceedings for the AY 2003-04, the AO noted that the Assessee had sold the assets of th .....

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