https://www.taxtmi.com/caselaws?id=8643 Suppressed income from stock discrepancies must be computed with reference to the relevant previous year and the accounting period ending on 7 April 1957. A later stock tabulation date of 8 April 1957 could not be substituted merely because the assessee's books extended to that date, as any transactions on that day would fall in the next assessment year. The proper comparison was therefore between the assessee's books and the bank's pledged stock account as at 7 April 1957, and the discrepancy had to be worked out on that basis. en-us Mon, 29 Mar 1971 00:00:00 +0530 Sat, 09 May 2009 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8643 Suppressed income from stock discrepancies must be computed with reference to the relevant previous year and the accounting period ending on 7 April 1957. A later stock tabulation date of 8 April 1957 could not be substituted merely because the assessee's books extended to that date, as any transactions on that day would fall in the next assessment year. The proper comparison was therefore between the assessee's books and the bank's pledged stock account as at 7 April 1957, and the discrepancy had to be worked out on that basis. Case-Laws Income Tax Mon, 29 Mar 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8643