No addition for duly reconciled stock discrepancy which was noticed during survey

Shri Babulal Vani Vs ACIT (ITAT Indore) The issue under consideration is if the assessee is in a position to reconcile the discrepancy raised under survey with positive material,then, the A.O. should give relief to the assessee or not? In the present case, the assessee is an individual engaged in the business of grain, cotton, pulse seed marketing. Survey under section 133A was carried out at business premises of assessee and certain books of account and loose papers were found and impounded by survey party. During the course of survey, statement of assessee was recorded and assessee admitted ...