If no physical discrepancy found, mere increase in stock not undisclosed stock u/s 69B
May 15, 2024
Income Tax, ITAT
Unless, discrepancy is found in physical quantities, assessee agreeing to increase stock value does not amount to undisclosed stock u/s 69B taxable u/s 115BBE In a recent judgment, ITAT Chennai has held that unless discrepancy is found in physical quantities, of stock, assessee merely agreeing to increase stock …