https://www.taxtmi.com/forum/issue?id=3541 The assessee declared excess stock discovered in a survey, recorded a corresponding book entry and included the amount in taxable income. The assessing officer proposes a further addition treating the same amount as unexplained investment or unexplained expenditure when shown as opening stock in the next year, relying on a tribunal decision to justify taxing the amount again. The core issue is whether a taxed declaration of excess stock can be revisited as an unexplained item on subsequent reopening and thereby subjected to double treatment. en-us Mon, 07 Nov 2011 19:51:05 +0530 Thu, 23 Jan 2025 15:58:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3541 The assessee declared excess stock discovered in a survey, recorded a corresponding book entry and included the amount in taxable income. The assessing officer proposes a further addition treating the same amount as unexplained investment or unexplained expenditure when shown as opening stock in the next year, relying on a tribunal decision to justify taxing the amount again. The core issue is whether a taxed declaration of excess stock can be revisited as an unexplained item on subsequent reopening and thereby subjected to double treatment. Discussion-Forum Income Tax Mon, 07 Nov 2011 19:51:05 +0530 https://www.taxtmi.com/forum/issue?id=3541