Tag: stock difference

Under Section 69, AO is under obligation to give reasons for not accepting explanations given by the assessee – ITAT In a recent judgment, ITAT Lucknow has held that under section 69 if the explanation furnished by the assessee not found to be satisfactory, the AO is under …

No addition for inflated statement of stock submitted to banker when no discrepancy was found in physical verification and books of account-High Court uphelds ITAT Decision   ABCAUS Case Law Citation: ABCAUS 2134 (2017) (11) HC The appellant assessee was a sole proprietor involved in the business of …

In a recent judgment, ITAT Chennai has held that a statement recorded u/s 133A can not be retracted saying survey team had exerted force on the assessee when he issued a cheque by properly preparing, signing it for the amount surrendered. Case Law Details: I.T.A.No.1429/Mds./2015 Assessment Year :2007-08 …