Re-determinination of value of opening stock - Addition of ...

Excess stock added as income must be included in closing stock and carried forward as opening stock in future assessments.

December 1, 2023

Case Laws Income Tax AT

Re-determinination of value of opening stock - Addition of excess stock found during the course of survey - Once additions is made towards excess stock found during the course of survey as income of the assessee, the said excess stock should be considered as part of closing stock of the assessee for the impugned assessment year and should be carry forward as opening stock for subsequent assessment years. - AT

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Re-determinination of value of opening stock - Addition of ...

Excess stock added as income must be included in closing stock and carried forward as opening stock in future assessments.

December 1, 2023

Case Laws Income Tax AT

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