Excel Sheet Alone Cannot Justify Excess Stock Addition: ITAT Delhi

DCIT Vs Pearl Precision Products Pvt. Ltd (ITAT Delhi) No Physical Stock Taking, Excel Sheet Alone Insufficient: Stock Difference Addition u/s 69A Deleted The Delhi Bench of the ITAT, in DCIT v. Pearl Precision Products Pvt. Ltd. (AY 2020-21), upheld the order of the CIT(A) deleting an addition of ₹1,82,87,179 made under section 69A on account of alleged excess stock found during survey proceedings. The Tribunal noted that, despite the Assessing Officer’s claim, no actual physical stock verification was carried out during the survey under section 133A. Instead, the survey team relied solel...