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“Minuscule” Stock Difference No Defence: ITAT Upholds Section 69A Addition
Case Law Details
- Case Name
- Parekh Ornaments LLP Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
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Parekh Ornaments LLP Vs ACIT (ITAT Mumbai)
The assessee filed an appeal against the order dated 17.07.2023 passed by the Commissioner of Income Tax (Appeals)-48, Mumbai under Section 250 of the Income Tax Act, 1961 for Assessment Year 2018-19. The appeal was filed with a delay of more than two years, accompanied by an application for condonation supported by an affidavit of a partner.
The assessee explained that the assessment under Section 143(3) was completed on 13.04.2021 with an addition of ₹5,55,960/- under Section 69A on account of alleged stock discrepancy. The CIT(A) dismissed the ap...
