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2009 (7) TMI 64 - HC - Income TaxRejection of books of accounts - AO on the basis of photocopy of the stock statement, came to the conclusion that the assessee was having 732.21 qtls stock of paddy basmati as on 31st March, 1997 while the stock was shown ‘nil’ in the books of account - AO did not point out any mistake in the books of account maintained by the assessee - The method of accounting was followed consistently by the assessee and there was no change in the method of accounting, no instance of suppressed sale was pointed out by the Assessing Officer - In such type of cases, the stock register is the subject matter of verification by the Excise authorities, in the present case, the said authorities had also not pointed out any mistake in the stock register maintained by the assessee – order of ITAT deleting the addition maintained.
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