CIT(A) determined excess stock and short stock during survey. ...

Excess & short stock during survey: 50% benefit on excess stock; 12.72% GP rate on short stock.

December 24, 2024

Case Laws Income Tax AT

CIT(A) determined excess stock and short stock during survey. ITAT partly allowed assessee's appeal. For excess stock, benefit of doubt given to assessee for 50% of value. For short stock, ITAT directed AO to adopt 12.72% gross profit rate instead of 25% adopted by CIT(A). Appeal partly allowed.

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CIT(A) determined excess stock and short stock during survey. ...

Excess & short stock during survey: 50% benefit on excess stock; 12.72% GP rate on short stock.

December 24, 2024

Case Laws Income Tax AT

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