1996 (7) TMI 51

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..... ting the addition towards suppression of closing stock ? (ii) The Tribunal is right in deleting the addition without independently considering the case on merits ? (iii) Should not the Tribunal have examined or remitted the cases for examination of the bank officers ?" The whole controversy centres around a sum of Rs. 1,60,192 which even the Income-tax Officer found that the assessee had wri .....

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..... ially to the needed cold storages gets not only intermittently disrupted but also continuously disrupted as an after effect of lightning and thunder which is also not uncommon. It appears that the first appellate authority-Commissioner of Income-tax (Appeals)--expected the Income-tax Officer to verify the stock by summoning the bank clerks along with their records before accepting the contents str .....

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..... , 1979, and by order of the first appellate authority dated May 16, 1980, reinforced by the Tribunal by its order dated April 19, 1982, the situation needs no kind of disturbance. For the above reasons, we answer the question in the affirmative, against the Revenue and in favour of the assessee, A copy of this judgment under the seal of this court and the signature of the Registrar shall be sent .....

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