HomeDirect TaxDeclaring Inflated Stock to Bank for Higher Cash Credit Is ‘Commercial Immorality’:...

Declaring Inflated Stock to Bank for Higher Cash Credit Is ‘Commercial Immorality’: J&K and Ladakh High Court Upholds Income Tax Addition

Published on

🚀 Stay Connected With JurisHour

WhatsApp X Telegram

The Jammu & Kashmir and Ladakh High Court while upholding Income Tax Addition, held that declaring inflated stock to banks for securing higher credit facilities amounts to “commercial immorality” and cannot be accepted as a legitimate business practice.  The Bench of Bench comprising the Chief Justice and Justice Rajnesh Oswal has observed that the stock…

Membership Required

You must be a member to access this content.

View Membership Levels

Already a member? Log in here
Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

Latest articles

GST Registration Cancellation Without Reasons Amounts to ‘Economic Death’ of Business: Supreme Court 

The Supreme Court has declined to interfere with a landmark judgment of the Allahabad...

JURISHOUR | TAX LAW DAILY BULLETIN : 21 JULY, 2026

Here’s the Tax Law Daily Bulletin for July 21, 2026.GSTGST | ONCE GOODS ARE...

Is Six-Month Notice Under GST Section 74 Mandatory? Supreme Court Stays Assessment Orders

The Supreme Court has granted interim relief to a taxpayer in a significant Goods...

GST Assessment Can’t Be Quashed for Shorter Notice Period Without Proof of Prejudice: Telangana High Court

The Telangana High Court has dismissed a writ petition challenging a GST assessment order...

More like this

GST Registration Cancellation Without Reasons Amounts to ‘Economic Death’ of Business: Supreme Court 

The Supreme Court has declined to interfere with a landmark judgment of the Allahabad...

JURISHOUR | TAX LAW DAILY BULLETIN : 21 JULY, 2026

Here’s the Tax Law Daily Bulletin for July 21, 2026.GSTGST | ONCE GOODS ARE...

Is Six-Month Notice Under GST Section 74 Mandatory? Supreme Court Stays Assessment Orders

The Supreme Court has granted interim relief to a taxpayer in a significant Goods...