Excess stock found during the course of survey - It goes without ...
Taxpayer Must Prove Error in Prior Admission of Excess Stock; Income Additions Upheld Without Evidence.
May 30, 2022
Case Laws Income Tax AT
Excess stock found during the course of survey - It goes without saying that the onus to prove that the earlier admission at the time of survey was wrongly made, was on the assessee because it was he who was retracting. If this contention, not backed by any evidence, is removed from reckoning, there is nothing to justify the retraction. - Additions confirmed - AT
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