9911796707
TMI Blog2012 (10) TMI 1146X X X X Extracts X X X X X X X X Extracts X X X X ..... Tax Appellate Tribunal dated 29.7.2011. Following questions have been presented for our consideration : A. Whether on the facts and in the circumstances of the case, Income-tax Appellate Tribunal, was right in law in confirming the addition of ₹ 27.70 lacs on account of stock difference and ₹ 1.10 lacs as unexplained cash found? B. Whether on the facts and in the circumstance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee had not been able to explain certain stock found at the time of survey. During the survey statement of the assessee was recorded. In unclear terms he stated that he was not able to explain such stock. In the concluding portion of the statement, he agreed the same as unaccounted stock and agreed to pay the necessary tax liability. During the course of survey, he did say that he would be com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re however, of the opinion that on the basis of evidence on record, two authorities concurrently held that the assessee was unable to explain the unaccounted stock at the time of survey. Such concurrent findings were confirmed by the Tribunal. No question of law arises. To reiterate, we notice that during the survey the assessee when confronted with the excess stock admitted that same is unaccount ..... X X X X Extracts X X X X X X X X Extracts X X X X
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