only general, stock register was not maintained and, therefore, it was not possible to verify the claimed damage to stock. The appellant also could not ... only general, stock register was not maintained and, therefore, it was not possible to verify the claim of damaged stock and also no material
not maintained stock of major items or raw material, stock of
leather, lining, shoe uppers, finished goods and stock in process and
stock of petty ... Assessee does not
maintain stock record but stock records were produced for
examination on 11.11.2009.
(b) Fact is that assessee maintains stock record of major
nature of items remaining in the closing stock are not
separately identified and not identifiable through opening stock purchase
and sales etc. considering the nature ... applied for valuing the stock. Alternatively, it is submitted that valuation of
stock involves estimation. Assessee, undisputedly, is not maintaining stock
records. Therefore, assuming, without
account on the ground not given any
maintenance of stock that the assessee has finding that
register and not maintained stock whether correct
estimated ... closing stock is
concerned, inventories of existing stock were not found to be incorrect by the
AO i.e. that position of stock as shown
rejection of
books of account is not justified without appreciating the facts that the
assessee has not maintained stock register and details of quantity ... closing stock is
concerned, inventories of existing stock were not found to be incorrect
by the AO i.e. that position of stock as shown
not maintained
stock register, therefore, opening and closing stocks were not possible to
verify. The assessee has also not maintained quantitative and qualitative
wise details ... that the assessee has not maintained day to day stock
register and therefore, opening and closing stocks are not subject to
verification
audited books of accounts including
stock results/stock details/stock register and previous year closing stock has
become opening stock in the current year ... preparing the tax audit report, did not mention about maintenance of stock.
Therefore, stock register was not maintained by the assessee. However, after
some time
assessee is not maintaining
any stock registers to record movement of stock and the firm was always
recording stock in the books of accounts ... assessee is not maintaining stock books and 'closing stock' has been arrived
at by taking into 'physical stock' for year
not accept the plea of the assessee
that it was not possible to maintain proper
accounts of stock records. He also noted
that the assessee ... relation to closing
stock valuation is not correct. It is an
admitted fact that the assessee had not
been maintaining day-to-day account
omitted to maintain stock registers and they had been warned that henceforth they should maintain the stock register. It also does not appear that these ... register was not maintained. As the dealers were not liable to tax, since they dealt with only exempted goods, I do not think that these
