Excess of physical stock noticed as compared to that recorded in ...

Central Excise

August 4, 2016

Excess of physical stock noticed as compared to that recorded in the RG-1 register - huge difference found can not be on account of processing loss. Also it is not logical that the appellants would weigh the raw material while charging the furnace but no weigh the finished goods which come out from the furnace - AT

View Source

← Previous Next →

Excess of physical stock noticed as compared to that recorded in ...

Central Excise

August 4, 2016

You may also like:

Confiscation of goods - Excess stock found which was not recorded in RG-1 Register - search was conducted as on 10/3/2011 - RG-1 Register was updated only till 28/2/2011...

Addition on account of excess stock - discrepancies in stock records, unaccounted sales - we are satisfied with the documentary evidence that the alleged stock of cotton...

Demand - duty on difference between finished goods reported in their 3CD returns and the RG-1 daily stock account - less quantity of clearance has been shown in their...

Clandestine removal of goods - merely because figures of stock reported in their financial accounts (3 CD Returns) filed with the Income Tax authorities were different...

Additions of surrendered amount as excess stock during the survey proceedings - During assessment proceedings production of stock register was insisted upon, though the...

Penalty u/s 11AC - Shortage of finished product vis-a-vis balance recorded in the RG-1 register – the appellant having sufficient balance in the RG-23A register, cannot...

Re-determinination of value of opening stock - Addition of excess stock found during the course of survey - Once additions is made towards excess stock found during the...

Excess stock found during the course of survey - unexplained investments u/s 69 r.w.s.115BBE - The ITAT concluded that the addition made by the AO was not justified....

Excess stock found during survey - search conducted u/s 133A - the excess stock found during search is nothing but business stock carried on by assessee which is not...

Excess stock found during the search - A.O. has not held that there was any difference in quantity of stock as per valuation report and as per hooks of accounts. There...

Rejection of books of accounts - difference in the opening stock as well as the closing stock - the assessee has shown excess opening stock - The AO did not care to...

Demand of duty - Incomplete RG-1 Register - shortage of physical stock of final product - neither side has been able to show as to what exactly is the quantum of...

Provisional Attachment of property - money laundering - no proceeding could be initiated on the basis of the notice u/s 8(1) issued to the present petitioner, thereby...

Penalty u/s 271(1)(c) - non recording of satisfaction - When satisfaction for initiation of penalty proceedings u/s 271(1)(c) of IT Act is recorded by the AO in...

Difference between the excess stock and closing stock would reveal that the assessees purchased stock using unexplained money - addition u/s 69A and penalty u/s...

Quick Updates: