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2001 (11) TMI 14 - HC - Income Tax


The High Court of Rajasthan dismissed an appeal under section 260A of the Income-tax Act, 1961, challenging the order of the Income-tax Appellate Tribunal. The case involved discrepancies in the stock statement submitted to the bank by the assessee, who inflated the stock position to avail of higher credit. The Tribunal found the statement to the bank was motivated and not reflective of the true stock position, leading to the deletion of additions made by the assessing authority. The Tribunal's decision was based on factual findings and did not raise a question of law, resulting in the dismissal of the appeal.

 

 

 

 

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