sixth ground of appeal is relating to disallowance of consumable stores amounting to Rs. 24,036. Assessing Officer had made addition ... second period on the ground that consumable stores, such as, limestone, coal, diesel had been purchased by the assessed even after the crushing season
Punjab & Haryana High Court in Ludhiana Central Co-operative Consumers' Stores Ltd. v. CIT [1980] 122 ITR 942, which also dealt with
while the railway should bear the cost of tools and plants, consumable stores, cost of recoverable permanent way materials and recurring expenditure on staff involved ... Railway is required to bear the costs of tools and plants, consumable stores, costs of recoverable permanent material and recurring expenditure on staff involved
profession, but does not
include-
(i) any stock-in-trade, consumable stores or
raw materials held for the purposes of his
business or profession
business or profession, but does not include any
stock-in-trade, consumable stores or raw materials held for
the purpose of his business or profession
Banks
on Stocks of Raw Materials, finished/ semi-finished goods and
consumable stores.
iii) Deposit of Post dated cheques towards repayment of
installments of principal
lakhs on account of repairs and maintenance and also purchased
consumable stores for Rs.27,131/-. In addition to these expenses, it was
noted ... welfare expenses as also the
repairs and maintenance and expenses on consumable stores. This,
according to the Tribunal, also supported the assessee's plea
profession, but does not include-
(i) any stock-in-trade, consumable stores or raw
materials held for the purposes of his business or
profession
profession,
but not to include-
(i) any stock in trade, consumable stores or raw materials held for the purposes of his business or profession
M/S Sms Ltd vs Konkan Railway Corporation Ltd on 11 May, 2020
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