2016 (7) TMI 1293

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..... e 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.See COMMISSIONER OF INCOME TAX RAJKOT-I. Versus PATEL PROTEINS PVT. LTD.[2014 (12) TMI 1246 - GUJARAT HIGH COURT ] Accordingly, the question is answered in the affirmative, i.e., against .....

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..... ax Appeal No. 278 of 2008 on April 22, 2008, the following substantial questions of law were framed by the court for consideration : A. Whether on the facts and circumstances of the case the Appel late Tribunal was right in law in deleting the addition made on account of difference in stock statement as furnished before the bank as compared to shown in books of account for availing of higher .....

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..... T v. Patel Proteins Pvt. Ltd. in Tax Appeal No. 1371 of 2008, dated December 12, 2014 (who is also the same assessee in this tax appeal) and relevant paragraph of the said decision reads as under : 7. Having heard learned advocates appearing on behalf of the parties and the question posed for consideration before us reproduced hereinabove and considering the decisions of this court, the quest .....

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