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TMI Blog2015 (7) TMI 688X X X X Extracts X X X X X X X X Extracts X X X X ..... come by that much amount? - Held that:- The assessee's case is that the stock declared before the bank of ₹ 169.17 lacs was as on 30.03.2009 and that was for the purpose of raising a loan. The Tribunal also found that the assessee had submitted a stock statement to the bank as on 30.03.2009. The bank officer who was questioned by the Assessing Officer stated that the loan of ₹ 100 lacs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fdar, ACJ. (Oral) 1. This is an appeal against the order of the Tribunal allowing the respondent's appeal against the order of the Commissioner of Income Tax (Appeals) upholding the addition of about ₹ 1.51 crores to the respondent's income. The following questions are sought to be raised:- i) Whether in the facts and circumstances of the case, is the Hon'ble ITAT correct ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t to avail a loan from the bank. According to the Assessing Officer, the documents disclosed the closing stock as on 31.03.2009 to be about ₹ 169 lacs. 3. The question, therefore, is whether the closing stock as on 31.03.2009 was ₹ 17.50 lacs or ₹ 169 lacs. This is essentially a question of fact. It involves an appreciation of the evidence on record. The question is whether th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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