No addition for shortage in excisable goods if no discrepancy found by Excise Authorities

HIGH COURT OF DELHI Commissioner of Income-tax versus D.D. Gears Ltd. IT APPEAL NO. 896 OF 2008 AUGUST 3, 2012 ORDER R.V. Easwar, J. This is an appeal by the Income Tax Department and it is directed against the order of the Income Tax Appellate Tribunal in IT(SS) No.258/Del/2003 dated 28.9.2007. The following questions are sought to be raised by the revenue : “(a)  Whether ITAT was correct in law in deleting the addition of Rs. 1.98 crores and Rs. 1.16 crores made by the Assessing Officer as unexplained investment in excess/shortage of stock? (b)  Whether order passed ...