ITAT Deletes Rs 76.98 Lakh Tax Addition Over Alleged Diamond Stock Shortage:

ITAT Deletes Rs 76.98 Lakh Tax Addition Over Alleged Diamond Stock Shortage

ITAT Chennai deleted a Rs 76.98 lakh tax addition after finding that the alleged 46.29-carat diamond stock shortage arose from an incorrect stock reconciliation by the AO.

Diamond Stock Shortage Addition Deleted by ITAT

authorVanshika vermadateJul 25, 2026
Last update on Jul 25, 2026
Premium

ITAT Deletes Rs 76.98 Lakh Tax Addition Over Alleged Diamond Stock Shortage

ITAT Chennai deleted a Rs 76.98 lakh tax addition after finding that the alleged 46.29-carat diamond stock shortage arose from an incorrect stock reconciliation by the AO.

Also Read

ITAT holds Corporate Guarantee Given to Overseas Subsidiary Requires TP Benchmarking, but Guarantee Commission Cannot Exceed 0.5%ITAT Quashes Reassessment for Failure to Issue Mandatory Section 143(2) NoticeITAT Holds Delay Alone Cannot Defeat Genuine Charitable Claim ITAT Allows Jio Platforms' Claims on Depreciation, Interest Expenditure and Advance Revenue

About Author

LinkedIn

Vanshika verma

Content Writer

Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.
Studycafe
Delhi, Delhi, India
1628
Up Next

Loading suggestions…

Recent Posts

ITAT holds Corporate Guarantee Given to Overseas Subsidiary Requires TP Benchmarking, but Guarantee Commission Cannot Exceed 0.5%Premium

ITAT Quashes Reassessment for Failure to Issue Mandatory Section 143(2) NoticePremium

ITAT Holds Delay Alone Cannot Defeat Genuine Charitable ClaimPremium

All Posts

ITAT Allows Jio Platforms' Claims on Depreciation, Interest Expenditure and Advance Revenue

ITAT Deletes Rs 1.89 Lakh Penalty Under Section 270A, Holds Non-Filing of Form 68 a Technical Lapse

Kerala Headload Workers Welfare Board Granted Income Tax Exemption for Three Tax Years

View All

Tags

ITAT CHENNAI

StudyCafe Membership

For More details about Membership Click Join Membership Button