HC upheld addition for unaccounted stock, rejects plea of stock borrowal from Sister Concern

HIGH COURT OF BOMBAY D.B. Bandodkar & Sons (P.) Ltd. versus Assistant Commissioner of Income-tax TAX APPEAL NO. 59 OF 2012 FEBRUARY  25, 2013 JUDGMENT V.M. Kanade, J.  Appellant has filed this appeal challenging the common orders passed by Income Appellate Tribunal, Panaji Bench in Income Tax Appeal No. 191 & 192/PNJ/2011 dated 20.4.2012. By the said impugned orders the Income Tax Appellate Tribunal was pleased to confirm the orders which were passed by CIT Appeals who had inturn confirmed the order of assessing officer. Both these appeals were disposed of by common...