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Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Addition on stock difference or understatement of sundry debtors ...

Income Tax

September 30, 2019

Addition on stock difference or understatement of sundry debtors - assessee has over stated the values by inflating the unit rates to increase the value of closing stock to the bank, but the quantity remained the same - there is no reason for making the addition on stock difference or understatement of sundry debtors.

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  2. Difference in value of stock as per stock statement submitted to bank and stocks as per books - additions deleted - HC

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