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No infirmity in order of ITAT if it accepted valuation of closing stock on due evidence

December 8, 2017[2018] 89 taxmann.com 202 (Allahabad)/[2018] 402 ITR 110 (Allahabad)

IT: Where Tribunal had accepted valuation of closing stock upon due appraisal of evidence and deleted addition so made by Assessing Officer by way of unexplained investment in closing stock, finding recorded by Tribunal being a pure finding of fact recorded on basis of material and evidence on record, same did not suffer from any infirmity

IT: Where entire cash credit found recorded in assessee's books of account for previous year stood duly explained and reconciled against different sale deeds executed by assessee, no addition under section 68 was called for

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