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Income Tax - Highlights / Catch Notes

Home Highlights November 2020 Year 2020 This

Addition on account of excess stock - discrepancies in stock ...

Income Tax

November 10, 2020

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 bales were part of book stock and they were issued out of stock on 24.1.2012 and were sold through the invoices issued on 25.1.2012. Physical stock was taken by the revenue authorities on the date of survey on 24.1.2002 - Addition deleted.- AT

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