2021 (4) TMI 315

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....rayanan for M/s.Subbaraya Aiyar JUDGMENT M.DURAISWAMY, J. We have heard Mrs.V.Pushpa, learned Standing Counsel for the appellant/Revenue and Mr.R.Venkata Narayanan for M/s.Subbaraya Aiyar, learned counsel for the respondent/assessee. 2.The appeal, filed by the Revenue under Section 260A of the Income Tax Act, 1961 (for short, the Act) is directed against the order dated 05.08.2016 made in I.TA....

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....ssessee's perception only and not based on any acceptable standard of accounting? 3.Whether on the facts and in the circumstances of the case and in law, the Hon'ble Income Tax Appellate Tribunal is right in giving relief on the ground that Assessing Officer failed to reconcile such stock with the by-numbers given when the assessee itself failed to do so during the course of search, and ....

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....r on the facts and in the circumstances of the case and in law, the Income Tax Appellate Tribunal was correct in deleting the addition made towards stock discrepancy which was taken with the active participation of the assessee's staff under their own supervision and valuation thereof by relying on their own statement?" 4.The learned Standing Counsel for the appellant submits that the above a....