Addition to Difference in Stock as per Books and Valuation Report can’t be made without Credible Evidence: ITAT [Read Order]

Addition - Difference in Stock - Books and Valuation Report - Credible Evidence - Evidence - ITAT - Taxscan

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that an addition on the difference in stock as per books and valuation report can’t be made without credible evidence. The Revenue challenged the impugned order dated 17/08/2021, passed under section 250 of the Income Tax Act, 1961 (“the Act”) by the Commissioner…

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