Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2007 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2007 (2) TMI 168 - HC - Income TaxAO observed that Assessee has not been maintaining any stock register for any of the F.Y. comprised with the block period & the closing stock was being worked out by the Assessee only as a balancing figure, so inventory prepared by Assessee after the date of search has no meaning – additions on account of undervaluation of stock is justified – at the time of the search inventory was prepared by dept. with the aid of Asseessee’s partner, hence such valuation can’t be challenged by assessee
|