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TMI Blog2011 (3) TMI 1662X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue's appeal against the order of Commissioner of Incometax( Appeals)-XI, Ahmedabad in appeal No. CIT(A)-XI/532/JAN-08/07-08 dated 10-10-2008 for the assessment year 2005-06. 2. The Revenue has taken the following ground:- "1. The Ld. Commissioner of Income tax (A)-XI, Ahmedabad has erred in law and on facts in deleting the addition of ₹ 12,03,462/- made on account of excess stock fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the disclosed stock was debited and also credited to the trading account and thereby the assessee has squared up the stock disclosed at the time of survey. Therefore, Assessing Officer made further addition of ₹ 12,03,462/-. Aggrieved by this order of Assessing Officer assessee went in appeal before Ld. CIT(Appeals) and filed detailed submission to show that assessee had disclosed the exces ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eal before us. 4. At the time of hearing Ld. Sr-DR relied on the order of Assessing Officer. None appeared on behalf of assessee despite the fact that notice was duly served on the assessee. However, we have proceeded to decide the issue after going through the records and hearing Ld. SR-DR and we find that Ld. CIT(A) has given relief to assessee by observing as under:- "4. From the written sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f appeal is allowed." Since the above finding of Ld. CIT(A) is based upon the entries passed by assessee in its books of account clearly showing that additional income offered towards excessive stock at ₹ 12,03,462/-has been truly and correctly disclosed by assessee, we find no infirmity in the order passed by Ld. CIT(A) and same is therefore upheld. 5. In the result, Revenue's appeal is d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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