Home Highlights May 2016 Year 2016 This

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1. Undisclosed closing stock - difference in the value of stock shown to the bank and as declared to the income tax department - no addition for the difference in stock as...

2. Addition on account of variation in the value of closing stock between the value declared in the accounts and the value declared to the Bank - The assessee demonstrated...

3. Addition on stock difference or understatement of sundry debtors - assessee has over stated the values by inflating the unit rates to increase the value of closing stock...

4. Difference in value of stock as per stock statement submitted to bank and stocks as per books - additions deleted - HC

5. Addition u/s 69B on account of difference in stock statement given to the Bank - the stock statement tally with the stock statement submitted to the bank at the end of...

6. Difference in stock submitted to bank and income tax department -addition based on stock statement submitted to Bank is not sustainable - AT

7. Difference between purchase value and value determined by District Valuation Officer though more than 5% but below 10% of purchase consideration, transacted amount...

8. Addition on account of excess stock - difference in stock statement submitted with bank and as per books of accounts - No additions

9. Addition on account of undervaluation of closing stock - difference in the stock statement given by the assessee to State Bank of India and as recorded in the books of...

10. Stock difference - when there is a difference in the value of stock shown in the statement given to the bank and the books of account of the assessee, the assessee is...

11. Addition u/s u/s 43CA - Difference in the sale value and stamp duty value - in the present case in hand as noted difference between the declared sale value and the value...

12. Undisclosed income u/s 69B - stock submitted to the bank - Such a tendency tantamount to commercial immorality for obtaining unjustified gains in the form of higher...

13. Addition u/s 56(2)(vii)(b) - difference between the sale consideration declared by the assessee and the stamp duty value - since the difference between the sale...

14. Excess stock found during the course of survey - unexplained investments u/s 69 r.w.s.115BBE - The ITAT concluded that the addition made by the AO was not justified....

15. The appellant provided sufficient evidence regarding the value and there was no dispute that the appellant had paid anything over and above the declared value while...