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Income Tax - Highlights / Catch Notes

Home Highlights October 2020 Year 2020 This

Discrepancy of stock - The conclusion reached by the Tribunal is ...


High Court Overturns Tribunal's Stock Discrepancy Ruling Due to Irrelevant Factors and Lack of Evidence Consideration.

October 15, 2020

Case Laws     Income Tax     HC

Discrepancy of stock - The conclusion reached by the Tribunal is coloured by the irrelevant consideration ignoring the relevant documents produced by the appellant assessee, resulting into the findings based on such conjecture and surmises without reference to the material and relevant evidence and therefore, such findings of the Tribunal even though on question of fact are liable to be set aside by this Court. - HC

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