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TMI Blog2010 (1) TMI 814X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee, Appeal dismissed - IT Appeal No. 6 of 2006 - - - Dated:- 25-1-2010 - Dhirendra Mishra, R.N. Chandrakar, JJ. Rajeev Shrivastava for the Appellant Moolchand Jain for the Respondent ORDER Dhirendra Mishra, J:- 1. This income-tax appeal under s. 260A of the IT Act, 1961 (in short "the Act") preferred by the Revenue against the order (Annex. A/3) of the Income-tax Appellate Tribunal (in short "Tribunal"), Nagpur Bench, Nagpur has been admitted on 20th March, 2006. 2. The only question, which arises for adjudication of this appeal, is-whether the learned CIT(A) and the Tribunal were justified in deleting the addition made by the AC) on the ground that the excess stock, as returned to the bank, was corr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... p in appeal and the CIT(A), after considering the explanation of the assessee that in the bank statement, the assessee had shown less value of sales and reported more stock; excess stock shown to the bank was attributable to less sales shown to the bank and thus, source of excess stock shown to the bank was fully explained as available from the books, forwarded a copy of submission made by the assessee to the AO for his comments as per order under s. 250(4) of the Act. The AO submitted that the assessee had shown less sales to the bank, as a result of which higher stock was shown to the bank. However, this fact was not submitted by the assessee before the AO at the time of assessment. CIT(A), considering the explanation of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... books has been accepted by the Tribunal, this is a conclusion of fact from which no question of law arises. 9. We have heard learned counsel for the parties and perused the orders of the AO, CIT(A) and impugned order passed by the Tribunal. 10. The undisputed facts, as detailed above, are that the AO made addition on the basis of difference in stock as appeared in the books of accounts and the monthly statement made by the assessee to the bank in CC account. CIT(A) considering the explanation of the assessee that the inflated stock was shown in the statement before the bank by reducing the sales figure and there was no discrepancy in the stock if the sales figure and balance of stock are considered in the bank statement as well as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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