2014 (9) TMI 1204 - SCH - Income Tax

Addition on the basis of inflated stock statement submitted to bank - Addition under Section 69B as per HC only on account of inflated statements furnished to the banking authorities for the purpose of availing of larger credit facilities, no addition can be made if there appears to be a difference between the stock shown in the books of account and the statement furnished to the banking authorities - HELD THAT - Leave granted.

Summary

The Supreme Court of India granted leave in the case with citation 2014 (9) TMI 1204 - SC. Judges were Mr. Anil R. Dave and Mr. Uday Umesh Lalit. Counsel for petitioner(s): Ms. Aparajita, Mr. Manish Pushkarna, and Mrs. Anil Katiyar. Counsel for respondent(s): Mr. Tushar Hemani, Mr. D.N. Ray, Mr. Lokesh K. Choudhary, and Mrs. Sumita Ray.