https://www.taxtmi.com/highlights?id=67484 Additions of surrendered amount as excess stock during the survey proceedings - During assessment proceedings production of stock register was insisted upon, though the assessee in reply to question No. 34 has stated that he is not maintaining any stock register because it involves various sizes, weight and quality of the paper. This statement of the assessee has completely been ignored by the Revenue Authorities. We, therefore, hold that the excess stock as worked out by the survey team does not rest on solid foundation as it has been arrived at by incorrect assumptions. - AT en-us Wed, 04 Jan 2023 08:30:03 +0530 Wed, 04 Jan 2023 08:30:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67484 Additions of surrendered amount as excess stock during the survey proceedings - During assessment proceedings production of stock register was insisted upon, though the assessee in reply to question No. 34 has stated that he is not maintaining any stock register because it involves various sizes, weight and quality of the paper. This statement of the assessee has completely been ignored by the Revenue Authorities. We, therefore, hold that the excess stock as worked out by the survey team does not rest on solid foundation as it has been arrived at by incorrect assumptions. - AT Highlights Income Tax Wed, 04 Jan 2023 08:30:03 +0530 https://www.taxtmi.com/highlights?id=67484