Capital Increase from Jewelry Revaluation u/s 28(iv) Not Taxable Due to Corrected Auditor Error.

Addition u/s 28(iv) - huge increase in the capital - revaluation of the jewellery - This is merely a book entry passed by the assessee - the auditor who has admitted to have made mistakes in describing the gold pledged as capital of the assessee, whereas, in the eyes of law it is a contingent liability and since the error has been corrected, no additions - AT .....

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