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2019 (3) TMI 299
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....GOVERNMENT PLEADER SRI V K SHAMSUDHEEN For The Respondent : ADVS. SRI. K. S. HARIHARAN NAIR, SRI. K. UMA MAHESWAR AND SRI. S. ANIL KUMAR ORDER Vinod Chandran, J The question arises in the above revision is as to the correct interpretation to be placed on the holding of stock as it appears under Section 8(f)(ii) of the Kerala Value Added Tax Act 2003 at the relevant time. We extract her....
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....ck in the subject assessment year. The assessee had a closing stock of 87332.467 grams in the assessment year 2009-10. What assumes significance according to the learned Senior Government Pleader is that the sales effected by the assessee in the year 2008-09 is 37416.250 where as in the subject assessment year, the sales went up to 477942.563 gms. Hence necessarily the stock held would have to be ....
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....t, but however, the question has to be dealt with as interpreted by the Tribunal. The Assessing Officer will have to necessarily look at the running stock of the business which should have to be compared with the previous year and if the same is double the running stock of the previous year, necessarily the cancellation would be proper. In making such consideration of the exact running stock, the ....