Tag: stock register

Rejection of books of accounts for non maintenance of stock register or incorrect valuation method or non compliance with accounting standard not sufficient. ABCAUS Case Law Citation:ABCAUS 3328 (2020) (07) ITAT Important case law relied upon by the parties:ACIT vs. Yerra Nagabhushanam (1997) 226 ITR 843, 849 (AP)Kunhambu …

Assessees maintaining and not maintaining stock register cannot be equated. ITAT directs addition on estimate basis for possible leakage of revenue ABCAUS Case Law Citation:ABCAUS 3132 (2019) (09) ITAT Important case law relied upon by the parties:Kachwala Gems Vs. CIT 288 ITR 10 (SC)M/s. Chadha Automobiles India reported …